Indian steel longs prices hit all time high as buyers restock

摘要

Major Indian steelmakers have increased their steel longs prices by INR2500-3000 /t, or $33- 40 /t, on a m/m basis, with some of these steelmakers having announced mid-month price increases during October. These price increases are a consequence of continuous rise in input cost of steelmaking in India, particularly for BF-BOF based steelmakers, where high priced imported coking coal is being fed to produce hot metal. Indian mills are promptly passing these costs to consumers, being aided by strong post-monsoon restocking demand amongst infrastructure and real estate construction contractors.