Indian Importers Book 25,000 MT HRC from South Korea

Indian importers have resumed HRC import bookings from South Korea, SteelMint learned from market sources.

As per market update,Indian stockists booked around 25,000 MT of HRC (base grade along with thinner size of 1.6-2mm) towards the end of last week from South Korea’s Hyundai Steel at around USD 480/MT CFR India for Jan end – Feb shipments.

Meanwhile as per anti dumping notification from steel ministry, anti dumping levels of Hot rolled coils from South Korean based Hyundai steel stands at USD 478/MT CFR basis.

Thus as per market sources, stockist and traders are booking the material for imports amid anticipation of further increase in Indian domestic HRC prices in Jan’20.

Indian HRC/Plate imports in Jan – Oct ’19- As per data maintained with SteelMint Indian HRC/plates imports stood at 2.07 MnT in Jan-Oct’19 which was around 2.03 MnT in Jan-Oct ’18. Major steel importing nations include South Korea occupying 64% of share,Japan at 19% of share followed by Indonesia at 7% and Ukraine at 4% in Jan -Oct’ 19.