Flat steel prices, continued to feel the brunt of liquidity constraints which are translating into highly measured procurements. Benchmarked hot rolled coil (HRC) prices rose a nominal INR 200/t ($2/t) to INR 51,900/t ($621/t) despite the dull demand. Many feel the price hike was effected to spur some action into the market but they are sceptical if this move will get the desired result.
