Export offers for hot-dipped galvanised iron (HDGI) coils (0.50mm, 900-1,250mm) from India decreased further by $15/t to INR $1,160/t FOB west coast. The buying interest continued to remain slow amidst the downtrend in upstream CRC and HRC prices on the global platform and currency depreciation against USD, SteelMint learnt from sources. Moreover, EU car sales in Apr’22 declined by 19% m-o-m, relaying slow demand.
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