Indian steel mills hold back HRC export offers on slump in bid values

Indian steel mills have held back their offers of hot-rolled coil for export shipments in November because the fob value of the bids they have received has fallen to less than $500 per tonne, Fastmarkets heard on Thursday September 24.

“Currently, [Indian] mills are neither issuing offers for HRC exports nor responding to bids,” one market participant said.

Bids for HRC exports received this week by Indian mills were about $40 per tonne lower than HRC export bookings at $530-535 per tonne fob...

Published

Suresh Nair

September 24, 2020

15:50 GMT

Mumbai