In raw materials, Fe62% iron ore fines, CFR China, dipped about 1% to $109/t ($110/t), while the premium HCC coking coal from Australia, CFR India, eroded a significant 15% or $45/t to $255/t ($300/t). HMS 80:20 scrap, CFR Turkiye, upped $4/t or 1% to $386/t ($382/t) in the month under review. Indian HRC export offers to Vietnam also dropped sharply by $38/t m-o-m to $567/t CFR HCMC amid tepid demand. Middle East was sluggish amid Ramadan and Eid. Europe continued to look dull. Indian mills undertook scheduled maintenance shutdowns which naturally reduced export allocations and kept offers on hold. Plus, some pre-election demand kept mills busy catering to home demand.
