Korean slab offers to Indian market have remained stable this week. Current offers are assessed at USD 270/MT, FoB Korea and freight charges are around USD 20/MT for break bulk shipments.
Market participants mentioned that Korean steelmakers like POSCO and Hyundai are offering slabs at almost similar levels.
According to Indian customs data, about 10,000 MT slabs of IS 2831 grade have been imported in October (1-15 Oct’15) at Kandla port from South Africa at a value of USD 265/MT, CFR India.
It is to be noted that import from Korea attracts a duty of 1.25%. Whereas, it attracts 10% duty from South Africa/ Brazil. Safeguard duty is not applicable on slabs and other re-rollable products.
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