Indian HRC export offers remain sluggish amid Chinese National Day holiday
Indian mills continued to hold HRC export offers to the Middle East and Southeast Asia. Moreover, no fresh offers for Indian HRC (S275, 3mm) exports to Europe were heard due to competitive offers, as Chinese mills have hiked prices by $30-40/t ahead of the National Day holiday (Golden Week) in China, effective from 1-7 October 2024. Market participants are cautious and waiting for further price indications.