Recently market sources shared with SteelMint that, Indian steel importers have booked HRC with Japan for May shipments.
As per the recent update received,Indian based stockists have concluded a deal of HRC (Pipe-making and other grade of higher thickness) of quantity 20,000 MT in the range of USD 570/MT CFR basis for May shipments.
Thus landed cost of HRC is assessed around INR 41,100-41,500/MT (ex-Mumbai). On the other side, domestic HRC prices in Mumbai region is hovering around INR 42,500-43,000/MT (ex-Mumbai). All prices mentioned above are basic and extra GST @18% is applicable.
Prior this, a month back Indian HRC importers booked around 35,000 MT of HRC from Japan for April shipments via two deals. First deal was concluded of around 25,000 MT of HRC at USD 565-570/MT CFR India and another of 10,000 MT at USD 555-560/MT CFR basis for April shipments.
Meanwhile imported HRC offers from South Korea is heard around USD 580/MT CFR India for May shipments.
Indian HRC/plates Imports from Japan in Jan – Feb’19 – As per the statistics data maintained with SteelMint, In first two months ( Jan- Feb) of CY19 India imported almost 0.18 MnT of flat steel from Japan. Meanwhile other major exporting nations included South Korea at 0.46 MnT, China at 0.11 MnT in Jan- Feb’19.However Russia, Taiwan and Indonesia imported HRC in small quantities.
Leave a Reply