Indian HRC export offers showed mixed trends. BigMints HRC index tracking EU-bound cargoes slid 2% m-o-m, while that for the Middle East and Southeast Asia increased by a minor 1%. Offers to the EU declined as trade slowed sharply following the full implementation of the Carbon Border Adjustment Mechanism (CBAM) from 1 January. Earlier in the month, a source informed BigMint, “Indian mills have fully exhausted their allocated quota for Q1CY26. With the CBAM now in force, buyers are increasingly relying on mills declared emissions values, while the verification process has been initiated by most mills”.
Leave a Reply