Domestic hot-rolled (HR) plate prices increased by INR 1,400/t ($19/t) w-o-w in the Mumbai market as sellers started quoting higher in anticipation of mills raising prices for Feb’22. SteelMint’s assessment for HR plate (E250, 5-10mm) stands at INR 65,000-65,500/t ($865-872/t) exy-Mumbai, excluding GST at 18%.
Chinese HRC export offers stand at $780-815/t FOB, up by $10-25/t w-o-w, ahead of the Lunar New Year holidays.
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