India: AM/NS lifts flat steel prices by up to INR 1,250/t ($17/t) for early Feb’22

Integrated steelmaker ArcelorMittal Nippon Steel India (AM/NSI) has recently announced a hike in list prices of HRC by INR 1,250/t ($17/t) and CRC by INR 1,000/t ($13/t) for early-Feb’22 sales, sources informed SteelMint.

• HRC stands at INR 66,000-67,000/t ($882-895/t)
• CRC: INR 71,750-72,750/t ($959-972/t)
• Prices are exy-Mumbai excluding GST at 18%.

Soaring coal prices, robust export bookings and rising global prices contributed to the price hike.