Steel prices race past peak levels of 2018, spreads at 3-year high

The market price for hot rolled coil (HRC) - a benchmark for flat steel - now stands at around Rs 47,500

Steel firms have increased prices by upwards of Rs 2,500 a tonne effective December, taking it beyond peak levels of 2018. From December 1, prices have been increased by Rs 2,500-2,750 a tonne for flat steel. JSPL has increased long product prices by about Rs 1,000 a tonne. 

The price for hot rolled coil (HRC) — a benchmark for flat steel — now stands at Rs 47,500-47,800. That’s higher than the peak of HRC in November 2018. HRC price had scaled to Rs 46,250 a tonne for a brief period then and dropped from the early part of December. The high