On March 23, sources informed SteelOrbis that ex-India HRC prices declined due to pressure from lower import prices as well as some domestic slowdown. Export prices have reportedly continued trending down due to regional market uncertainty and softness in global raw material prices.
Sources inform SteelOrbis that HRC is now on offer to the UAE at $620-630/mt CFR, down $10-20/mt from last week’s $640/mt CFR level. Several UAE buyers are reportedly showing interest for ex-India HRC at $615-620/mt CFR.
Indian exporters are reportedly competing against ex-China HRC offers of $610-620/mt CFR to UAE.