Rising export offers from China,Japan and South Korea in the month of January amid higher raw material prices, Indian exporters are also looking to raise offers for HR coil for March delivery said market sources.
“Chances are fair that Indian exporters may fetch US$600-610/t,FOB Indian west coast for 2 mm HR coil from European buyers. Current offers from Chinese exporters are somewhere in the range of US$595-600/t FOB Shanghai. Considering delivery time and freight charges, Indian exporters might consider increment in export prices.” said a source based in Mumbai.
Indian domestic HR coil prices are unchanged at Rs 33,500- 34,500/t (Basic, Ex-Works).
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