Indian flat steel producers are likely to roll over domestic prices of commercial-grade hot-rolled coil (HRC) for July sales.
Officials from at least two major flat steel mills confirmed a rollover of HRC prices for July while pointing out that a reduction in HRC prices is unlikely because production costs for mills will rise to reflect the significant weakening of the rupee against the dollar. The rupee on Thursday June 28 fell to an intraday low of 69.08...