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Tel : 0086-0371-86172891
We have learned that India has raised the local heat coil S60C steel quotation for May to INR 1000-1500 per ton (approximately USD 12-18 per ton), to approximately INR 54000-56000 per ton EXW (approximately USD 647-671 per ton EXW). And due to some steel mills in India planning maintenance in May, the production of hot coils will be reduced to a certain extent.
But we also understand that this price increase has not affected the spot market. Currently, the spot price of local S60C steel hot coils in India is 54500-55000 rupees/ton EXW, which is only a narrow increase of 500 rupees/ton compared to last week's price of 54000-54500 rupees/ton. Some market participants have indicated that the current spot prices of hot coils in India may have taken into account the increase in steel mills' quotations for May orders, and the acceptance level of buyers after the S60C steel price increase remains to be observed.
