Chinese HRC export offers move up by $5-10 per tonne

Rising flat steel prices in Chinese domestic market have made exporters to raise their offers by $5-10 per tonne which is also supported by strong iron ore prices in spot market.

” Current offers stand at around $550-560/t FOB China to South East Asian countries. Although there is no buying interest from Indian importers on weak currency and competitive offers in domestic market.” said market analysts.

On the other hand, Indian domestic market is not very encouraging and most of the manufacturers preferred to keep their prices unchanged this month. Current offers hover around Rs 33,500-34,500 per tonne (Ex Tatanagar) for Fe 410 grade, they further added.