Integrated steel producer, ArcelorMittal/Nippon Steel India (AM/NS) has recently announced a hike in HR plate (IS 2062, 5-10mm) prices by INR 3,000/t ($40) for Nov’21 delivery. Revised prices are at INR 73,000-73,500/t ($974-$981) exy-Mumbai, excluding GST at 18%.
The price hike comes on the back of a recent spurt in restocking demand alongside an increase in raw material prices that has raised steel production costs.
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