Domestic manufacturers have increased their HRC export offers by USD 20-25/MT against last week.
According to market sources, this week Indian manufacturers have increased their HRC export offers considerably although no deals have been heard at these level. Currently Indian HRC is being offered at USD 440-445/MT, FoB India basis.
With the hike in domestic flat product prices after anti-dumping duty imposition, Indian manufacturers are getting good sales realizations in the domestic market, driving them to focus more on domestic market rather than overseas sales.
As the Chinese market was closed this week due to National Day holiday, no new offers for HRC were heard from the country. Last offers from China were assessed at USD 375-380/MT, FoB basis.
CIS-origin,HRC offers are in the range of USD 395/MT, up by USD 5-10/MT. Offers from CIS countries have surged this week in the absence of fresh offers from China. Also improvement in domestic demand in the country has propelled the manufacturers there to raise their HRC export offers.
The HRC export offers from Japan/Korea have been consistent since past two weeks and the same are assessed in the range of USD 420-430/MT, FoB basis.
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