Ex-China HRC offer to India

2,500 mt of 4.0-10 mm x 1,500 mm x C Q235 grade hot rolled coil has been offered for export from China to India at $500-505/mt FOB on actual weight basis via at sight payment by letter of credit for March shipment. SteelOrbis has learned that with domestic sales prices increasing to about RMB 4,050/mt ($521/mt) for the above-mentioned items in China recently, quotations for hot rolled coil exports are moving up to above $500/mt, up $15-20/mt compared with last week. However, few transactions have been concluded. SteelOrbis is informed that the buyer and seller are currently negotiating such issues as the prices and payment terms, and that the customer is asking the seller to find a bulk ship at a competitive price for shipment to India.