India: Trade-level HR plate prices rise w-o-w amid supply constraints, steady demand

India's trade-level HR plate (20-40 mm, Gr E250 Br.) prices rose by INR 900/t ($10/t) w-o-w to INR 56,300/t ($612/t) ex-Mumbai, excluding 18% GST, on 29 Jan'26 from INR 55,400/t ($602/t) a week ago. Supply constraints and steady demand led to positive sentiment, driving the price rise. Moreover, a market participant said that list price hikes may take place next month, further reinforcing the optimistic outlook.