The Indian HRC (SAE1006) export price indications to UAE market witnessed a decline of $10-20/t weighed down by increased competition from China and lower bids by the buyers amidst cheaper offers from local stockists. Current week offers stand around $980-1,000/t CFR from India whereas those from China around $950-970/t CFR, SteelMint learned from credible sources. Moreover bids were heard to have dropped below $950/t CFR.
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