India: AM/NS raises list prices of plates by INR 16,000/t ($212/t)

ArcelorMittal/Nippon Steel India (AM/NS) has raised steel plate (20-40mm, E250) prices by INR 16,000/t ($212/t), sources informed SteelMint. Shrinking steel margins due to elevated raw material prices pressured mills to raise prices sharply. The effective price of plates is assessed at INR 95,000-95,500/t ($1,258-1,264/t) on exy Mumbai basis, excluding GST at 18%.