- HRC offers to the EU, Middle East remain steady w-o-w
- Nepal HRC offers rise as domestic Indian HRC prices increase
BigMint’s Indian HRC (S275) export index for the European Union (EU) remained unchanged w-o-w at $520/t FOB main port, as trading activity in the region remained limited due to the year-end holiday slowdown.
Indian HRC (SAE 1006) export index for the Middle East also remained stable w-o-w at around $465/t. A BigMint source indicated that “market activity is expected to pick up after the New Year break and with the start of the new fiscal year in the region.”
1. HRC offers to EU: Indian HRC export offers to the EU remained stable w-o-w at $570/t CFR Antwerp, with fresh offers were largely absent this week as demand in the region remained weak amid the New Year holiday slowdown.
2. HRC offers to Middle East: Indian HRC export offers to the Middle East remained unchanged w-o-w at $490/t CFR UAE. The demand in the region remained weak as market participants were still in the holiday mood, resulting in limited trading activity. Chinese HRC export offers to the Middle East also remained stable w-o-w at $485/t CFR UAE.
HRC May 2026 contracts on the Shanghai Futures Exchange (SHFE) declined by RMB 37/t ($/5t) w-o-w to RMB 3,250/t ($465/t) on 6 January 2026 compared with RMB 3,287/t ($471/t) a week earlier.
3. HRC offers to Nepal: Indian HRC export offers to Nepal increased by $10-15/t w-o-w to around $505-510/t CFR Raxaul as compared to $495/t a week earlier. A BigMint source indicated that “this rise in prices is attributed to higher domestic HRC prices in India; however domestic demand in the region remains weak and buyers are hesitant at these levels.”
Outlook
The Indian HRC export market is expected to gradually pick up as trading activities resumes after the New Year slowdown. Fresh inquiries and offers are likely to emerge as market participants return from the holiday break and demand trends become clearer.
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