Major Indian steelmakers are holding their HRC export offers as of now and are likely to come up with fresh offers next week.
Major Indian steel mills have announced price hike of INR 500-1000/MT for December. Thus they might take into consideration the recent hike in domestic prices before quoting fresh export offers next week.
Last HRC export offers from major Indian manufacturers was assessed in the range of USD 540-545/MT FoB India.As per market sources last booking was made for Europe for about 20,000 MT of HRC which was assessed at USD 610/MT CFR basis.
Previous bookings made by Indian manufacturers for Vietnam for around 20-25,000 MT HRC was in the range of USD 555-560/MT,CFR Vietnam.
Global HRC market overview – week 49
Chinese HRC export offers have increased today slightly and are assessed at USD 560-580/MT, FoB China. However many steel mills have withdrawn their export offers owing to disparity between offers and bids. Therefore not much deals were reported.
HRC export offers from CIS nations were recorded at USD 515-540/MT, FoB Black Sea.
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