Chinese mills were heard quoting HRC (SAE1006) for export at $565-570/t CFR UAE, down by $5-10/t from the previous week’s $575/t CFR. Buyers continue to bid at sub-$540/t CFR levels, sources highlighted. Moreover, participants opine that Indian mills to come up with fresh offers in the next few days as the 15% export duty was removed by government on 18 November 2022.
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