Major Indian integrated steelmakers--Steel Authority of India Ltd (Sail), Ispat Industries and JSW Steel--have hiked the prices of their hot and cold rolled coil and other flat products by up to Rs 1,000/tonne ($21/t) in August in response to good demand and rising international prices. This price hike was widely anticipated, as Steel Business Briefing previously reported.

At the moment, 2mm commercial grade HRC from Steel Authority of India Ltd (Sail) is selling at Rs 29,500-30,000/t ($619-630/t) ex-stockyard excluding taxes, in Mumbai in the western state of Maharashtra, whereas CRC is being sold at around Rs 33,000/t ex stockyard.