The standard hot rolled coils are seeing a sequential 2–5 percent price increase from Indian steel factories, with the average price for March deliveries being around INR 61,000 (USD 745) per ton.
After a mid-month price reduction, the HRC prices were in the INR 58,200 (USD 711) per ton level in mid-February, whereas the prices published in early February were roughly INR 59,000 (USD 720) per ton.
The present price increase is the result of increased costs for raw materials like iron ore and coking coal, increased domestic demand brought on by project demands, and the termination of export offers at higher rates.
The cost of cold rolled tubing has increased by INR 1,500–2,000 (USD 18–24) per ton, and is now INR 67,000–69,000 per ton.
Additionally, mills anticipate improved local demand due to current projects, increased building activity, and other factors. India consumed 107.19 million tons of total completed steel from April to February of FY23, an increase of 11.6 percent year over year.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only
