Ex-India hot dip galvanized (HDG) coil prices have been kept stable defying anticipations after large mills increased base prices for hot rolled coil (HRC), but they did not tinker with the price of the former, the speculated reason being that there are very few volumes to be sold overseas anyway.
Ex-India HDG prices have been kept unchanged at $780-820/mt FOB and stable at $850-860/mt FOB for Z200-275, but most sellers said that these prices are unviable after large mills increased HRC prices but refrained from adjusting the price of value addition. According to market insiders, a trade for 2,000 mt for delivery to Rotterdam was done at $880/mt CFR, but this was not confirmed by the seller.
“Europe is keeping stray deals alive but does not show signs of a rebound. Having increased local flat product prices across the board and not adjusting export prices indicates that overseas sales are peripheral for integrated mills,” a source at ArcelorMittal Nippon Steel Limited (AMNS) said.