SteelOrbis has learned from market sources that import hot rolled coil (HRC) offers for December production to Oman from Russia, India and China have increased by $5/mt over the past three weeks, while South Korean offers have remained stable. Accordingly, offers from Russia, India and China are now standing at $570-575/mt CFR, while South Korean HRC offers to the country are still at $590/mt CFR. These offers are for advance payments and exclude VAT. Meanwhile, market sources state that HRC demand in the Omani market is still sluggish.
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