Following the suit of Chinese steelmakers, Indian mills have also raised the HRC export offers by USD 10-15/MT. Sustained demand in China’s domestic market has reduced the Chinese export volumes giving enough scope to the Indian steelmakers to raise the HRC export offers in the global market.
Market participants mentioned that Indian HRC export offers heard to be at USD 590/MT FoB India for European market . Although no deals have been concluded in these prices. Last assessment was at USD 575/MT, FoB India.
European buyers have returned to market after a long holiday.Beside this, Euro has been depreciated against USD,which gives a better realization to Indian exporters.
South East Asian Countries remain quite as no major bookings have been heard in the market.
However bullish sentiments in global market has resulted to boost in export earnings for major Indian manufactures in domestic market.
Indian CRC export offers inched up on rising Chinese steel prices
Major Indian steelmaker have raised the Indian CRC export offers by USD 10/MT owing to upward momentum in Chinese CRC export offers in global market.
Currently CRC export offers are been heard in the range of USD 650-665/MT,FoB India which is equivalent to USD 700-705/MT,CFR Europe.However no major deals have been concluded yet.
Leave a Reply