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Indian exporters have to revise HRC prices

Indian HRC producers have slightly reduced export prices to spur buying. Although the key rivals, Chinese suppliers, were on holidays for a week, slack demand keeps putting pressure on Indian offers anyway.         
Specifically, quotes of Indian HR coils have decreased $10/t from the bottom end over two weeks to $410-430/t FOB. “Chinese players have been away within the past two weeks due to New Year celebrations, so Indian suppliers have not revised prices sharply,” a large Indian trader told Metal Expert.         
The traditional sales markets for Indian HR coils have been slow, with no deals reported by traders. In the Middle East Indian suppliers quoted their products at $410-425/t FOB, which was unattractive, local market insiders said. To Europe offers have been set at some $410-415/t FOB (EUR 405-410/t CFR). 
        
Market players interviewed by Metal Expert say that further price movement will depend on buyers’ response to an upturn in Chinese offers. 

Source: metalexpert-group.com

Mar 9, 2015 10:50
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