Indian mills were looking for a steep cut in domestic prices for hot-rolled coil (HRC) in August in an attempt to boost sales, Fastmarkets heard on Friday July 26.
According to an official from a private-sector steel mill, the price reduction in HRC for sales in August could be in the range of 1,000-1,500 rupees ($14-22) per tonne."Domestic demand for HRC is very weak," the official said, "and a price reduction is...