Indian HDG exporters increase prices, trading conditions remain muted

Thursday, 14 October 2021 14:22:01 (GMT+3)   |   Kolkata
       

Indian hot dip galvanized coil (HDG) exporters have hiked prices to align them with the recent upward revision of hot rolled coil (HRC) prices effected earlier this month, even though muted trading conditions have been seen in the market and buyers are on the sidelines waiting for prices to find lower levels, SteelOrbis learned from trade and industry circles on Thursday, October 14.

Ex-India HDG prices are up to $1,130-1,140/mt FOB compared to $1,110-1,130/mt FOB a week ago. But exporting mills were not seen to be pushing trades owing to the fall in business activity during the week because of festivals and only modest-volume trades have been reported from the Gulf region.

Trade circles said that ex-India HDG at higher prices have largely been rejected in the Gulf region, where prices are trending lower and buyers are preferring to wait for a new bottom.

However, in the case of Indian mills an upward adjustment of HDG prices is necessary to maintain the price differential with HRC, after mills increased base prices of the latter earlier in the month.

Sources said that a western India-based exclusively flat steel producing mill has reported a trade at around $1,130-1,135/mt with a Middle Eastern buyer.


Similar articles

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

US HRC prices still ticking downward, prices expected to bottom this month

15 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Baosteel keeps local HRC prices stable for April

12 Mar | Flats and Slab

US flats mills take primes down $60-$70/gt, announce HRC price increase

08 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

US HRC, CRC and HDG coil prices maintain their downtrend

01 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Romanian flat steel prices stable despite slow trade

23 Feb | Flats and Slab