India: Trade-level HR plate prices fall by up to INR 400/t ahead of festive holidays

Trade-level prices of hot-rolled (HR) plates have softened ahead of Diwali. BigMint's weekly assessment for HR plates (IS2062, Gr E250 Br, 20-40mm) decreased by up to INR 400/t to settle at INR 51,500-55,000/t exy-Mumbai on 23 Oct'24. In contrast, weekly prices for hot strip mill (HSM) plates (IS2062, Gr E250 Br, 5-10mm) remained steady at INR 48,500-49,500/t exy-Mumbai. Prices exclude 18% GST.