SteelMint has heard from its market sources that a HRC cargo has been booked to Europe by Indian exporters at USD 460-470/MT (EUR 415-420/MT), CFR Europe.
With the start of September month, European steel giant Areclor-Mittal has increased its coils prices by EUR 40/MT (USD 45/MT) following which domestic coil prices in Europe have also moved up.
Current HRC prices in EU (European Union) are being heard in the range of USD 450-500/MT (EUR 400-450/MT), ex-works basis. However, as per market sources, the European buyers are currently making purchases in smaller quantities as they usually de-stock their material towards the year end.
Indian HRC export offers are at USD 415-420/MT, FoB India basis. Currently Indian manufacturers are focusing in overseas market in order to create artificial scarcity in the domestic market which would give them scope to increase domestic HRC prices further amid subdued demand and increasing raw material prices.
CIS-origin HRC are currently being heard at USD 380-395/MT, FoB Black Sea, while HRC offers from Japan and Korea are assessed at USD 430/MT, stable this week. China’s HRC offers are heard at USD 385-390/MT, FoB China basis.
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