SteelOrbis has learned that ex-Ukraine hot rolled coils are being offered to India at the price levels of $650-690/mt CFR Mumbai for November shipment. Meanwhile the HDG price level is at $950-970/mt ex-warehouse for late October/early November delivery.
The local flats market prices are still on a downtrend in India and the demand in this country is hovering at low levels for the time being. Since both end-users' and traders' stocks are at high levels, even attractive import offers are not registering any response.
On the other hand, the HDG prices in this local market have declined compared to last week to the level of $950/mt for 0.50-1.0 mm 120 gr/mt² zinc coated material. India is an exporter of galvanized steels. Thus, the shrinkage in the export markets has been placing pressure on the local market prices.