SteelOrbis has been informed that domestic
flats offers have shown a recovery of around $20-40/mt in the Indian domestic market. However this recovery is unlikely to last in the long term.
As for offers given from stockists to their local market,
HRC offers are standing at the level of INR 26,500/mt ($513/mt) ex-warehouse, excluding VAT, indicating a small rebound of INR 1,000/mt ($19/mt) over the last four weeks, while
CRC offers have increased to INR 31,500/mt ($610/mt) ex-warehouse, excluding VAT, from the level of INR 29,000/mt ($561/mt) seen last month. On the other hand, base prices of HDG in the Indian domestic market are standing at INR 32,500/mt ($629/mt) ex-works, increasing by INR 1,500/mt ($29/mt) as compared to four weeks ago.
With regard to the export market, in particular as regards HDG, it is observed that prices have recorded sharp decreases against the background of weaknesses in international sectors which widely consume HDG, i.e.
construction,
automotive,
white goods and
shipbuilding.
Looking at the export offers given from
India, 0.4 mm 100 gr/m² zinc
coated HDG is being offered to the export markets at the level of $590-600/mt FOB for April shipments. This offer has shown a decrease of $40-50/mt in less than three weeks. Meanwhile, ex-
Ukraine HRC offers to this country are standing at $370/mt CFR Mumbai for April shipments. The price in question has decreased by $50-60/mt as compared to last month.
US$1 = INR 51.6684