SteelOrbis has learned from market sources that import hot rolled coil (HRC) offers for December production to Oman from Russia, India, South Korea and China have remained stable since last week. Accordingly, offers from Russia, India and China are still standing at $570-575/mt CFR, while South Korean HRC offers to the country are at $590/mt CFR. These offers are for advance payments and exclude VAT. Meanwhile, market sources state that foreign HRC mills want to increase their prices for Oman, but weak demand amid the approach of the year-end period makes any upward adjustment difficult.
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