Indian steel mills are unlikely to cut domestic hot rolled coil prices for sales in May, private mill sources in the country told Fastmarkets this week.
"We are likely to continue with current prices for the next month,," an official from a private sector mill said, "[because] any reduction in prices will [lead to] a big loss to our dealers and distributors."Fastmarkets' price assessment for steel HRC, domestic ex-works India, was at 37,750-38,250 rupees ($504-511) per...