Indian mills likely to raise domestic HRC prices early October

Indian mills are likely to raise the domestic price for hot-rolled coil (HRC) early in October after the sharp loss in value of the country's rupee against the US dollar in the current month.

The exchange-rate value of the rupee has gone down by about 4% so far in September, which has led to HRC imports becoming more expensive while also driving up the input costs for local mills.Officials from at least two Indian mills confirmed that domestic HRC...