Indian mills announce price hikes, HRC hits record high

Major Indian steel producers have taken up two rounds of price hikes for hot-rolled coils (HRC) and cold-rolled coils (CRC) in Oct'21 backed by the spurt in restocking activities and an increase in coal prices, pushing up hot-rolled coil (HRC) prices to all-time highs.

1. JSW Steel Ltd announced an INR 1,000/t hike effective 16 Oct'21. Prior to this, the mill had raised prices by INR 1,200/t earlier this month. 2. PSU steel major SAIL had announced its third hike of INR 750/t effective from 19 Oct'21. The mill hiked prices by INR 1,500/t at the