Chinese HRC offers to India up by $10 per tonne but importers hold back

Offer prices in India for imports of commercial-grade hot rolled coil (HRC) from China have risen by at least $10 per tonne over the past week, leading importers to take a pause from further buying.

Offers for commercial-grade HRC from China increased to $445-450 per tonne cfr Mumbai for June shipments in the current week, compared with $435-440 per tonne cfr last week, also for June shipments. Importers, however, have not booked any HRC following the price increase, as they are unsure whether the sudden surge in Chinese prices will be sustained. “I have not booked HRC since the prices increased to $445-450 per tonne cfr early this week. It is possible that prices may slide back to $435 per tonne cfr Mumbai in the next...

Published

Suresh Nair

April 28, 2017

18:28 GMT

Mumbai