Indian HRC export offers to both the EU and the Middle East and Southeast Asia fell m-o-m, but the magnitude differed. Indian HRC export offers to the EU fell around 6% m-o-m to $581/t FOB main port in July, mainly due to weak buying at the start of the month as buyers assessed the EU’s revised country-specific safeguard quotas. Indian mills reduced offers to stimulate bookings, while subsequent buying was driven mainly by efforts to secure available Q4CY’26 quota rather than stronger underlying demand.
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