Indian primary mills raise flat steel prices

Indian primary steel mills have raised prices for flat steel by INR 2,000-2,500/tonne (t) ($27-33/t) for Nov'21. The reason is surging prices of input materials like coking coal, met coke and ferro alloys, mills say.

Indeed, premium HCC Australian coking coal prices are up 257% in Oct'21 y-o-y while the HCC 64 mid-vol is up 214% in this period. Prices of both silico manganese (60-14) and ferro manganese (FC70%) are currently up around 30% since the third week of September. It may be recalled flats