Indian HRC stays lofty amid increasing buyer resistance

摘要

Spot prices of hot-rolled coil in India’s domestic market held steady at a 19-week high on Oct. 21, as steelmakers kept offer levels high amid an impasse with most buyers, who said they have not been able to pass on higher prices downstream. S&P Global Platts assessed IS2062, 2.5-10 mm thick HRC, delivered to Mumbai at Rupees 42,500/mt ($577/mt), unchanged on the week. The assessment excludes GST of 18%.