A private Indian steel mill was heard offering HRCs at around $720/t CFR UAE this week. This is higher by $40-50/t from the previous week’s $670-680/t CFR. “The market is mostly quiet. Buyers are awaiting return of the Chinese mills post-Lunar New Year holidays,” informed a reliable UAE-based source. Last heard offers from China before the holidays were at $680-685/t CFR.
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