Indian steel mills heard to have cut export offers for HRC and CRC for November delivery owing to weak Rupee and moderate demand in domestic market.
Current offers for 2.5 mm HRC stands at around $560-565/t FOB Indian west coast (down by $5-10/t from last month). These offers are made to customers based in middle east.
Sources tell that no deal has been concluded from Indian exporters , as buyers have cheaper option from Korea and CIS countries.
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