AM/NS India announces a sharp hike in list prices of HRC and CRC by up to INR 4,000/t ($55)

Integrated steel producer ArcelorMittal Nippon Steel (AM/NS) announced a sharp hike in list prices of HRC by INR 3,500 ($48) and CRC by INR 4,000/t ($55) for Apr ’21 delivery. The revised prices of HRC stand at around INR 58,000-58,500/t and CRC at INR 68,000-68,500/t. Prices are on exy-Mumbai basis, excluding GST @ 18%. Revival in downstream domestic demand, higher export realizations and absence of cheaper imports have propelled the mill to lift the prices.