Global hot rolled coil export offers hit an 8-month high in February, as per SteelMint data. Prices from the four key supplier markets China, Japan, India and Russia – which together enjoy almost 45% of the global seaborne export trade – rose by an average over $40/tonne (t) m-o-m in February 2023. Nearabout levels were last seen in June 2022. However, m-o-m, India showed the steepest increase in February, by almost $70/t to $712/t FoB ($644/t in January).
Russian offers rose the second-highest, by $42/t to $680/t FoB ($638/t).
Japanese and Chinese offers increased by $28/t and $27/t to $660/t ($632/t) and $663/t ($636/t) respectively – on FoB basis.
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