Hot Rolled Coil (HRC) offers to India fall on weak demand and Rupee

Chinese HR coil prices to Indian market have corrected almost $5-10 per tonne in last few days on sluggish demand and depreciating Indian Rupee against US dollar.

Current offers of 2.5mm borom grade HRC from China is being offered in the range of $580-585/t CFR India whereas Chinese high commercial grade material to middle east is in the range of $570/t FOB China.

Indian domestic steel mills have raised March prices although impact was too little. Currently Indian domestic prices in Indian market are in the range of Rs 35,000-35,500/t (2.5mm, Prices Incld Excise)

Prices for CIS-origin HRC for April have corrected by $10-15 per tonne on low demand. Offers are in the range of $570/t FOB to Turkish buyers.