Indian steel mills have raised their prices for commercial-grade hot-rolled coil (HRC) by about 800 rupees ($12) per tonne for domestic sales in May.
HRC producers in India have been successful in increasing prices consecutively over the past three months while international prices for the commodity continue to be higher than domestic Indian prices."The price increase [of 800 rupees per tonne] is very modest. We are selling HRC domestically at a discount compared with imported HRC,"...