Indian mills raise HR coil prices as imports drop and exports revive

摘要

HR coil prices in India are up by as much as INR2,500 ($30) /t m/m aided by improving enduse demand, costlier imports, and higher raw material prices. Export sales growth to supportnear term prices while Union Budget in February may influence local sentiment.Although HR coil prices have increased substantially m/m, price rises for downstream sheetproducts (CR coil and coated sheet) are relatively modest due to relatively weak fundamentalsupport. Moreover, the price premium for D-grade CR coil over CRU-assessed base gradeCR coil stayed at the standard differential of INR800–1000 ($10–13) /t.