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Indian Steel Mills Cut CRC Export Offers

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BigMint Bureau

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29 May 2017, 14:33 IST

Indian Steel Mills Cut CRC Export Offers

Indian steelmakers have slashed CRC export offers by USD 5-10/MT this week.
Currently CRC export offers heard in the range of USD 560-570/MT FoB .However,some mills are also offering at USD 550-560/MT,FoB basis.

Prior to this, offers were assesed at USD 575-580/MT, FoB India a week back.

Trade sources highlighted that buying interest has picked up after increase in Chinese steel prices. Last week domestic CRC prices in eastern-China increased from RMB 3,350/MT to RMB 3,750/MT (ex-works).

Amid higher gains in Chinese domestic market, Chinese CRC exporters focussed more on domestic market. CRC export offers from China stood at around USD 465-475/MT,FoB China last week.While some mills were heard trading in the range of USD 460/MT,FoB basis.