Sources inform SteelOrbis that Indian HRC (2mm) has been purchased by a buyer in the UAE for $660/mt CFR early this week.
Reportedly, offers from China for HRC have softened to $635-645/mt CFR while they are at $660-665/mt CFR from India. Due to softer Chinese export offers today, sources expect some downward pressure on Indian HRC export trades in the short-term.