SteelOrbis has learned that the price level of local production HRC in India is at $550/mt ex-warehouse (ready stock material) indicating a decrease of $70/mt compared to the level of two weeks ago; meanwhile, local production 0.5-1.0 mm 120 gr/m² zinc coated HDG is priced at $765/mt ex-warehouse, a decrease of $35/mt compared to the level of two weeks ago for December delivery.
Looking at the Indian flats export market, Indian producers are offering HRC to Belgium at $510/mt CFR Belgium for December shipment, indicating a decrease of $125/mt from two weeks ago, whereas 0.5 mm 275 gr/m² zinc coated HDG is being offered to the same country at $743/mt CFR Belgium by Indian producers, and 0.4 mm 275 gr/m² zinc coated HDG is being offered by the same producers at $787/mt CFR Belgium, all for December shipment. Meanwhile, Indian producers are offering 0.5-1.0 mm 120 gr/m² zinc coated HDG for export at the level of $680/mt FOB India for December shipment, down $65/mt compared to two weeks ago.
In the Indian flats import market, ex-Ukraine HRC is being offered to India at the price level of $500/mt CFR Mumbai for December shipment, indicating an increase of $20/mt compared to the price level of two weeks ago. Meanwhile, ex-China HRC is being offered to India at $520/mt, also for December shipment, indicating an increase of $20/mt from the price of two weeks ago.
It is observed that the restrictions on imports in India have started to show their effect.