Chinese exporters raise HRC prices on crawling up steel prices in domestic market, which have also been supported by higher iron ore prices in spot market.
Sources tell that commercial grade HRC is being offered at around $545/t FOB Shanghai (up by $5-10 in last few weeks) where as SS400 is being offered at $560/t FOB Shanghai.
Indian importers prefer to stay away on weak rupee and poor demand. Also domestic offers are in line with landed imported prices. Buyers are not very hopeful of any revival in the month of November.Although raw material pressure will give support to prices said participants.
Leave a Reply