Indian steel mills are likely to increase domestic hot rolled coil (HRC) prices about 750 rupees ($12) per tonne following a surge in commodities' prices in the international market this week, sources told Metal Bulletin.
Officials from at least two Indian mills confirmed that the domestic price for HRC in April will be hiked at least Rs750 per tonne. "The mills have not officially sent a revised price list for the current month, we have only been verbally communicated to about the price increase," an authorized distributor of HRC for an Indian mill said. The distributor, however, said that the...