Indian mills plan $24-per-tonne cut to domestic HRC prices for June sales

Indian mills are likely to cut domestic hot rolled coil prices for June sales by 2,000 rupees ($24) per tonne, sources told Fastmarkets, after the price of HRC imports fell by $20-25 per tonne in the week to Friday June 2.

Fastmarkets' price assessment for steel HRC, domestic ex-warehouse India was 59,500-60,500 rupees per tonne on Friday, unchanged since the first week of May.

Mills are likely to announce...