Indian HDG export offers supported by US buying activity

Indian export offers for hot dip galvanized (HDG) coils have remained firm during the past week in the range of $840-860/mt CFR US amid sustained buying support, traders said on Friday, March.
 
According to a Mumbai-based trader, US buyers have continued to maintain healthy bookings for April deliveries, although higher volumes have been transacted at the lower end of the price range.
 
Market sources said that some buyers looking at booking higher volumes sought discounts on offers but no transactions were concluded at discounted prices due to the reluctance of local exporters as the Indian rupee showed signs of appreciating against the dollar.
 
The sources said that demand from the Gulf region has continued to remain strong and that transactions at around $800/mt CFR have been reported in the market.