Indian HRC exporters have kept their export offers stable this week as they are facing intense competition from Chinese manufacturers in global market. Chinese export offers are almost at par with Indian export offers leading to stability of offers in foreign market
Current HRC export offers from India are hovering in the range of USD500-505/MT FoB India. However, the deals have been made in the range of USD 500/MT to Vietnam and around USD 510/MT for Europe on FoB basis.
As per market sources, Indian mills have booked significant quantities for March shipments. Notably, market participants also believe that about 500,000 MT of HRC has been booked in last few weeks.
Hence, Indian exporters are playing safe by keeping their export offers firm.
Chinese HRC Export Offers Marginally Down This Week
Chinese HRC export offers are recorded in the range of USD 510-515/MT,Fob China. Export offers in China have witnessed downtrend owing to bearish sentiments prevailing in Chinese domestic market.
CIS-Countries HRC Export Offer Rise amid Positive Sentiments.
CIS-origin export offers increased this week by USD 5/MT owing to positive sentiments prevailing in Russian flat steel market. Current Offers of HRC are heard in the range of USD 495-500/MT,FoB Black Sea.
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