Indian Mill Concludes 40,000 MT HRC Export Deal

A govt owned Indian steelmaker has booked around 40,000 MT of HRC to Vietnam and China in the last two days at USD 397-400/MT CFR basis for June- July deliveries, SteelMint learned from its sources.

Towards the beginning of this week, a private Indian mill booked a small parcel of 10,000-20,000 MT of HRC to Vietnam at USD 400/MT CFR basis. Indian HRC export prices have increased by USD 5-10/MT against last week, backed by aggressive bookings at last offers and increased Chinese buying.

Few sources share that Indian mills may further raise offers by USD 5-10/MT in the coming days.

Imported HRC offers to Vietnam increase- Towards the end of this week imported HRC offers witnessed a further increase by around USD 10-20/MT from major exporting nations following an increase in export offers from India.

-- HRC (SAE 1006, 2mm), China- Benxi Steel is offered at USD 430/MT CFR basis. At the beginning of the week offers stood around USD 410/MT CFR basis.

-- HRC (SAE 1006, 2mm), Japan- Nippon Steel's offer is at USD 425/MT CFR basis. At the beginning of this week previous offer- USD 415-420/MT CFR basis.

-- HRC (SAE 1006, 2mm), Russia- MMK is offered at USD 400/MT CFR basis. Prior offer- USD 385-390/MT CFR basis.