It is predicted that the Indian mills would keep the prices of hot rolled coils (HRC) flat this week because of the slack demand and cash pressure from the traders after hiking the prices for consecutive two months.
In this January, the Indian mills lifted the HRC price by US$9-US$26/ton and the transaction price has increased from US$615~US$624/ton to US$624~US$634/ton.
In the beginning of February, the Indian mills announced to lift the HRC prices by US$18/ton further, stimulating the local transaction price to reach US$629~US$643/ton.
