Ex-India hot dip galvanized (HDG) coil prices have remained unchanged during the past week but mills have held back offers owing to limited exportable volumes available and the rising optimism of achieving higher sales next month.
Sources said that ex-India HDG prices are stable at the higher end of $815-845/mt FOB with a deal for around 5,000 mt reported at the lower end of the range for delivery to Antwerp, according to sources. However, most ex-India HDG Z120-140 offers to Europe have been voiced at $840-845/mt FOB, the same as last week.
Meanwhile, Indian CRC suppliers have kept focusing on the European market this week. Following a few deals at around $730-735/mt FOB last week, the material has changed hands at more or less the same level, at €720/mt CFR or $735/mt FOB.
“Mills have very little export allocations left for the current quarter. But the good news is that as they decide on new export allocations for the last quarter, the price in key EU markets is expected to consolidate at a higher level, resulting in improved and revived interest in imports,” a source at ArcelorMittal Nippon Steel Limited told SteelOrbis.
“Mills in Europe will complete price increases by January when new tariff import quotas will be available. Hence, local exporters do not see sense in adjusting prices aggressively to push sales now when the outlook looks brighter,” another source added.
