Indian flat steel exporters are keeping their export offers unchanged owing to better domestic sales realisations.
Although flat products prices in global market have surged remarkably, Indian primary steel producers are not making any export offers in the market currently.
The reason being better sales reliastaions in the domestic market. Post MIP flat products prices from manufacturers end have increased by INR 3,500-4,000/MT. Also yesterday, DG Safeguards (DGS) recommended to continue safeguard duty on HRC till Mar’18.
With MIP and safeguard duty, imports have been restricted as the landed cost of imports is much higher than domestic prices.
Last HRC export offers from India were heard at USD 330/MT and for CRC at USD 360/MT, FoB India basis. However no trades are being carried out at above rates.
Korean Manufacturers Raise HRC/CRC Prices
Following recovery in Chinese steel prices, South Korean steel giant, Hyundai has also raised HRC/CRC prices in its domestic market by USD 25/MT for April and May deliveries.
For March shipments, prices were raised by USD 17/MT and the cumulative hike in Korea’s domestic prices from Jan’16 till date is USD 42/MT.
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