The Indian private steel behemoth, JSW Limited announced a steep increase of INR 2,500/t ($33/t) in its HRC and CRC prices for early March sales.
Ensuing list prices after hike:
HRC- INR 70,500-71,000/t ($927-934/t)
CRC- INR 76,000-76,500/t ($999-1,006/t).
Prices are on an exy-Mumbai basis, excluding GST at 18%.
The spurt in raw material prices along with higher exports informs the price rise.
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