Tag: India: Trade-level HRC prices drop INR 1100/t ($13/t) w-o-w on slowing market momentum

Trade reference prices of hot-rolled coils (HRC) dropped by around INR 1,500/t ($18/t) w-o-w in the key market of Mumbai this week amid mixed market sentiments. This has been the second consecutive week when offers dropped. However, market participants remained concerned about the elevated raw material costs and anticipate prices to rebound in the near…