Following downturn in global HRC export offers, Indian export price assessment have also come down. Indian mills have cut HRC export offers by about USD 10/MT. Chinese HRC export offers fell by USD 15/MT W-o-W amid weaker domestic prices. Similarly CIS HRC export offers have also come down this week.
Currently HRC export offers are assessed in the range of USD 640-650/MT FoB India which is equivalent to USD 680-690/MT CFR Europe. However as per previous price assessment HRC export offers from India are heard to be in the range of USD 700-705/MT CFR Europe.
Market sources mentioned that India has booked small quantities of HRC for Middle East Countries and Europe for May shipments in the range of USD 640-650/MT FoB basis. However Indian mills have not quoted any new offers for Vietnam.
Mills had raised export offers in beginning of this month after they raised prices in domestic market amid scarcity of material along with limited allocations for exports.
Indian flat steel export volumes surge significantly in CY17- India has exported 9.41 MnT of flat steel in CY17 which was 5.04 MnT in CY16.Thus export volumes from India shown significant growth in CY17. Major destinations for Indian flat steel exports in CY17 were Vietnam at 0.13 MnT,Italy at 0.10 MnT and Belguim at 0.09 MnT.
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