Major Indian steelmaker have raised the HRC export offers by USD 10-15/MT W-o-W basis on rising global prices.
Currently HRC export offers are hovering in range of USD 480-490/MT,Fob India.Last week the offers were in range of USD 470-475/MT on FoB basis.
As per current offers Indian HRC export offers stands at USD 500-505/MT, CFR South East Asian nations. Notably export offers for Europe are heard in the range of USD 480/MT on FoB basis which is equivalent to USD 518/CFR Europe.
Since Chinese and Russian steel mils have also raised their HRC export offers by USD 15/MT this week compelling the Indian exporters to riase the HRC export offers.
Overseas buyers are also looking for Indian cargoes as Chinese HRC export offers are continuously rising and are anticipated to increase further over optimistic domestic market.
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