Indian Steelmakers secure HRC sale to South East Asian region at $590-600/t FOB

Indian hot rolled coil producers are successful in selling their commercial quality Hot Rolled coil (HRC) of size 2.5 mm to the South East Asian Country, delivery next month. Indian-origin HRC was booked at $590-600/MT FOB Indian west coast.

Indian offers have moved up compared to last month amid rising offers from Chinese and Japanese sellers which are reported to be selling same grade at around $630/t CFR South East Asia. Experts believe that prices will stay firm in coming weeks on higher raw material prices and improving demand.