Imported HRC offers in the Indian market remained at the same level in 3rd week of July. Current offers for 2.5 mm HRC (SS400) from China stood in the range of USD 325-330/MT, CNF India. Some mills have heard been offering below USD 325/MT levels for bulk bookings.
HRC offers from Japan and Korea also remain more or less in the range of at USD 370-375/MT, CNF India. As per trade sources, there are limited offers from Korean mills.
Korean mills are ready to offers discounts only in case of bulk bookings and that to not below USD 365/MT, CNF India. Import duty on Chinese cargo is 10%, but it is 0.8% and 1.25% on Japanese and Korean cargoes respectively due to FTA agreement. Russian offers are assessed at USD 365-370/Mt CNF India, which is not workable owing to high import duty (10%) and high transition time.
Indian importers are also hesitant making purchases owing to consistently falling prices from Chinese mills.
Imported Plates Offers to India
Imported MS plate offers from China are also unchanged at USD 330-340/MT, CNF India. While, high tensile plates are being offered in the range of USD 380-400/MT, CNF India. Amid Eid festivities, there are no fresh offers from POSCO, Indonesia. However, it is anticipated that in the upcoming days, its offer for MS plate will persist at the same level of USD 380/MT, CNF India.
HRC Imported Offers as on 22 Jul’15
| Particular | Prices in USD/MT | W-o-W |
| CNF India (from China) | 325-330 | 0 |
| CNF India (from Japan) | 370-375 | 0 |
| CNF India (From Korea) | 370-375 | 0 |
| CNF India (from Black sea) | 360-375 | 0 |
Source: SteelMint Research
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