Indian export offers to the
US for hot dip
galvanized (HDG) coils have remained unchanged during the past week at around $850/mt CFR, but volumes have improved amid increased market activity, traders said on Friday, January 17.
According to a Mumbai-based trader-exporter, despite the unchanged offer levels, the volume of bookings for February-March shipments has been higher as
US buyers returned to the market and increased interest in Indian HDG.
Just before the close of 2013,
US domestic mills increased their prices for flat steel products and Indian exporters see this as an opportunity to push more volumes into the
US market, the trader said.
However, buying interest from the Gulf Co-operation Council (GCC) has remained absent during the week and no bookings have been reported during the week amid reports of a sharp softening of demand in the market in question, sources said.