Indian mill books over 20,000 t HRC to Middle East at increased prices

A major private Indian steel producer reported to have booked around 20,000-30,000 t HRC (re-rolling grade) to Middle East at $725-730/t CFR basis (equivalent to $705-710/t FoB basis) for end Jan-Feb shipment, SteelMint learned from its credible sources. Sharp hike in HRC prices, both in global and India’s domestic market have resulted to hike in Indian HRC export offers.