New Delhi, Jan. 21 -- Seasonal demand and improved inventory drawdown have pushed Indian Hot Rolled Coil (HRC) prices upward, even as exports remain muted in the international market.

According to the latest sector update from IDBI Capital, domestic HRC prices increased by 2.4 per cent Week-on-Week (WoW) to reach Rs 52,000 per tonne. This trend in the ferrous segment comes at a time when coking coal prices have experienced a significant double-digit spike due to environmental factors affecting global supply chains.

The IDBI Capital report highlights that coking coal prices surged by 10.5 per cent WoW to USD 190 per tonne. This sharp increase is primarily attributed to heavy rainfall in Queensland, Australia, which disrupted the met coke...