Indian export offers for hot dip galvanized (HDG) coils have remained stable during the past week at around $850/mt CFR US amid modest transaction volumes, traders said on Friday, January 24.
According to a Mumbai-based trader, US buyers have remained quiet during the week and only a few inquiries have been converted into transactions.
Reports heard in India indicate that there has been some confusion over price trends in the US market and most steel distributors have been waiting for local US prices to stabilize before concluding import transactions, the trader added.
Sources said that there have been no reports of any significant HDG transactions from India to the Gulf markets, while Indian exporters have refrained from lowering offers to push shipments to the region.