India: Bhushan Power and Steel cuts HRC price

Bhushan Power and Steel Ltd (BPSL) reduced HRC list prices by INR 2,000-2,500/t($27-34) with effect from 1 Jul ’21, sources informed SteelMint.

Revised prices:

• HRC (1.4-1.6 mm grade) stands at INR 70,200/t
• HRC (2.4-12 mm grade) is at INR 66,950/t
• Prices are on ex-plant basis, excluding GST @ 18%

Poor sales in the domestic market and limited export opportunities resulted in the price correction.