On November 12, SteelOrbis reported the downtrend since August of ex-China HRC, as benchmarked by HRC SAE 1006 2-3 mm, to $540-545/mt CFR.
Prices are now reportedly at $535-545/mt CFR, down $5/mt from the bottom of the range a week ago, but a source noted that ex-China HRC SAE 1006 prices “seem to have hit a plateau in the week.”
In line with competitor pricing into Vietnam, sources report that Indian exporters have decreased prices on the HRC product in tandem with ex-China movements.