Global steel and raw material prices, except for scrap, slipped further into the red zone. Coking coal showed the sharpest m-o-m drop, reveals data maintained with BigMint. Most hot rolled coil (HRC) prices fell m-o-m. Chinese offers dropped further by $7/tonne (t) or 1.3% to a six-month low of $536/t in April 2024 against $543/t in March. Japanese offers took cue from China to fall $17/t or 3% to $560/t ($577/t) while Indian mills saw their prices eroding by $21/t or nearly 4% to $562/t ($583/t). The Indian prices are at a 10-month low, hugging June 2023 offers of $568/t FOB.
