HRC export offers from India to UAE drop as market resumes after holidays

Imported HRC (SAE1006) offers to the UAE dropped significantly from mills in India and China this week after the Labour Day and Eid holidays last week. Both Indian and Chinese exporters are aggressive in the market amidst slow domestic demand in both countries.

• India- $900-920/t CFR compared to $950-980/t CFR previously
• China- $890-900/t CFR compared to $930-950/t CFR before the holidays.