The ex-work prices of hot rolled coil in India have hiked to about US$620~630/ton from US$616~625/ton last month. It is the second rise by nearly US$20/ton since January in despite of the soft demand in Indian HRC market.
It is expected that the steel mills are difficult to surge their prices in the short term because of the funding constraint by traders and the arrival of purchased import steel.
However, the HRC market in India is expected to be positive because the market demand is estimated to start rolling since second quarter of this year.
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