It is said that rising coal and natural gas prices and the depreciation of the rupee have hit steel mills hard. Coupled with the stabilization of international steel prices, Essar Steel's price increase this time is estimated at 1,000-1,200 rupees/ton, while JSW Steel is currently in discussions with customers and will determine the size of its increase soon.

　　Indian steel mills had sought a price increase of 1,000-1,250 rupees/ton ($17-21/ton) in July, but sluggish end-user demand prevented a full increase from being implemented. Currently, the mainstream ex-works price of local hot-rolled coil remains at 33,750-34,250 rupees/ton ($558-567/ton). Imported steel is uncompetitive due to the depreciation of the rupee, with quotes at $565-570/ton, further widening the gap with local prices, which is also one reason domestic steel mills are again seeking price increases.