Japanese HR coil offers to Indian market have corrected marginally by USD 5/MT this week.
Current offers for 2.5 mm HRC are assessed in the range of USD 350-355/MT, which was being offered at USD 355-360/MT on CFR India basis last week.
Indian importers are not willing to take position for imported cargo after Indian safeguard office recommended 20% duty on hot rolled coils, which is expected to be notified next week.
“There is no fresh buying for imported HR coils , as it is certain that duty will be imposed soon. Current offers for Japanese and Korean Coils are at USD 350-355/MT , whereas Chinese offers are at around USD 300-310/MT on CFR India basis.” said an importer based in Mumbai.
Japanese HR coil offers to Bangladesh are assessed at USd 350-355/MT, CFR Chittagong, Bangladesh for October shipments.
Source: SteelMint Research
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