Indian HRC export offers have reported a fall this week by USD 10/MT owing to thin trading and fewer bookings among overseas buyers.
Market participants mentioned that a major steel mill is heard offering HRC to Vietnam at USD 575-580/CFR basis for Nov shipments, which is equivalent to USD 560-565/MT, FoB India. However last offers for Indian HRC export offers was assessed at USD 570/MT, FoB India .Thus a weekly drop of USD 5-10/MT can be noticed.
However for Europe Indian HRC export offers are in range of USD 610/MT, CFR Europe. Steel mills in China and Korea are closed for this week amid holidays. Thin trade volumes were reported for Europe.
Indian CRC export offers also move down marginally – CRC export offers from India which were seen at USD 660/MT, FoB India last week have come down to USD 640-660/MT, FoB India this week.
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