Indian HRC Export Offers Unchanged for August Deliveries

Indian HRC export offers continued to remain stable this week amid thin trading in the global market. Moreover overseas buyers are choosing Chinese HRC export offers as the cheaper alternative compared to Indian HRC export offers.

As per sources major Indian steel makers are offering HRC export at USD 455-460/MT, FoB India for South East Asian nations which is equivalent to USD 475-480/MT, CFR Vietnam.
Chinese HRC export offers remain more competitive making them more preferable.

However for Europe,Indian HRC export offers are around USD 460-465/MT, FoB India which is equivalent to USD 505-510/MT on CFR basis.No such deals have been concluded yet.

Whereas export offers for middle east countries are hovering around USD 485/MT on CFR basis.

Indian HRC exports in Apr'17-According to provisional data released by Joint Plant Committee (govt. of India) country exported 0.54 MnT flat steel in Apr'17, out of which HRC export accounts for 0.19 MnT which shows that 35% of HRC has been exported from India.

Indian Steelmakers Rolled Over Flat steel Prices
Major Indian steelmakers have kept the HRC prices unchanged.However they are seen offering discounts for Jun'17 bookings.

Domestic HRC (IS2062) 2.5mm-8mm prices are assessed in the range of INR 39,000-39,500/MT (ex-Mumbai) and INR 39,500/MT (ex-Chennai). Prices are inclusive of Excise duty of 12.5%.