Indian HRC export prices plunge by $60 per tonne on lockdown

The price of hot-rolled coil exported from India plunged by $60 per tonne in the week ended Friday March 27, with the country going into compete lockdown on the Wednesday to try to contain the spread of the Covid-19 pandemic.

Fastmarkets assessed the price of steel HRC, export, fob main port India, at $390-395 per tonne on Friday, down from last week’s assessment at $450-455 per tonne.

“The domestic market is dead for now because of the country-wide lockdown, and mills will need to book large tonnages of...

Published

Suresh Nair

March 27, 2020

17:25 GMT

Mumbai