Indian govt. owned steel mill- SAIL has announced a steep hike in its flat steel prices yesterday. The company raised HRC prices by INR 3,250/t ($44) and CRC prices by INR 4,000/t ($55), SteelMint learned from company officials. The revised price of HRC stands at INR 55,000-55,250/t and CRC at INR 64,000-64,500/t (exy-Mumbai), exclusive of GST @18%. Supply-demand mismatch in light of higher downstream industrial demand has resulted in a substantial increase in steel prices.
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