Current HRC offers from China are in the range of $650-670/t CFR Mumbai, Commercial grade material. Whereas, prices in domestic
market (India) are almost at same levels. Traders and stockist are of the view
that demand is not healthy enough to buy the material at current levels.
However, Prices are
likely to remain stable at current rates, next month as well. Indian exporters
fetch high prices from Middle East market (up by $ 10-15), current offers
from Indian exporters for 2MM HRC is at around $620/t FOB East coast.
Total imports of HRC (Under Chapter-7208) in the month of
January and February were nearly at around 547,800 tons. On the other hand,
experts believe that rise in imports were affecting the domestic market,
further it is also believed that if the quantity of material being imported is
reduced it will increase the demand of domestic material.
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