Domestic hot-rolled (HR) plate prices increased by INR 900-1,500/t ($12-20/t) w-o-w as sellers have started quoting higher after mills indicated price hikes would be announced for Feb’22. AM/NS India has increased prices by INR 1,000/t ($13/t) for early Feb dispatches, with the others likely to follow suit. SteelMint’s assessment for HR plate (E250, 5-10mm) stands at INR 66,000-66,500/t ($883-890/t) exy-Mumbai, excluding GST at 18%.
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