India’s HRCs exports showed an 8% drop y-o-y to 2.99 mnt (3.26 mnt) in 2023. On the other hand, exports of CRCs rose a healthy 60% in this period to 0.56 mnt (0.34 mnt) while that of galvanized rose an even higher 84% to 1.49 mnt (0.81 mnt). Thus, the additional supplies in the face of dull demand, especially towards the end of the calendar, impacted HRC prices downward. However, CRCs stayed further supported by decent overseas demand and higher realisations from the same.
