Indian export offers for hot dip galvanized (HDG) coils have remained fairly stable during the past week, consolidating at the range of $840-850/mt CFR US as traders pushed for higher gains buoyed by the revival of inquiries from European markets, traders said on Wednesday, November 6.
According to at least two Mumbai-based traders, export market sentiments have remained stable with steady US inquiries for December shipments and, with the rupee remaining stable against the dollar, exporters have maintained offers in the higher range.
Exporters have been also aggressively pushing for volumes since after an interval of several months inquiries from the European Union (EU) markets have been showing signs of revival and, although no transactions for December shipments have been completed during the past week, the market is optimistic on the prospects of clinching transactions during the current month, the traders said.