Chinese HRC export prices declined by 1% m-o-m, as the onset of Ramadan dampened demand in key importing markets such as the Middle East and Southeast Asia. The approaching Lunar New Year holidays also pushed sellers to trim offers.
Indian HRC export offers to the EU surged 11% m-o-m, driven by strong price gains in the Indian and EU domestic markets. European mills continued pushing prices upward as imports remain limited, with expectations of stricter safeguard measures keeping mills bullish.
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