Commercial grade 3-12 mm HRC offers given to the Indian market are standing as follows:
Origin | Price | Shipment |
INR 31,000-32,000/mt ($647-668/mt) ex-works | October production | |
$535/mt CFR | Early November |
The above Chinese origin offer, which excludes five percent import tax and two percent general expenses involved in entering the market, has shown a decrease of $10/mt over the past two weeks. Even if all charges are taken into account, the Chinese offers will still be $75-95/mt lower than new local production HRC offers. However, if Indian buyers accept the Chinese offers, they will have to wait for 45-60 days. It is already mentioned in the market that an antidumping investigation may be initiated against Chinese HRC.
US$1 = INR 47.9000