Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

India’s primary steelmakers have raised prices of hot-rolled coil (HRC) and cold-rolled coil (CRC) by Rs3,500-4,500/mt ($47-61/mt) for May deliveries, in line with the high international steel prices, according to Davis Index’s sources. The price surge is also attributed to sharp hike in input cost like iron ore, coking coal and freight costs.


With this hike, prices have reached an all-time high, with primary mills’ HRC at around Rs64,000-65,000/mt ($866-880/mt) in Faridabad and Rs66,000-67,000/mt ($893-907/mt) in Mumbai.


Domestic mills are offering HRC at around $970/mt FoB India, finding better realisation in export market than in domestic.


Mills found good demand in domestic market in the first half of the April, which dwindled in the second half after imposition of lockdown and other restrictions in many regions of the country.


Meanwhile, international iron ore prices shot from $80/mt in April 2020 to over $190/mt in last week of April 2021, touching a ten-year high before softening to its current level of $187/mt.



Leave a Reply

Your email address will not be published.