Indian HDG exporters keep offers stable but push volumes in Gulf at discount

Thursday, 29 March 2018 18:06:04 (GMT+3)   |   Kolkata
       

Indian exporters of hot dip galvanized (HDG) coil have maintained their offers at $760/mt FOB during the past week amid a marginal uptick in transaction activity in the Gulf region even as buyers from the US continued to remain absent from the Indian market, traders said on Thursday, March 29.

Sources said that buyers in the Gulf Co-operation Council region have showed a marginal increase in interest and the number of transactions has improved during the week though volumes have remained limited.

Overall, global HDG prices have been trending lower with a softening in offer prices of ex-China HDG, the sources said, adding that, though Indian exporters have maintained their HRG offers unchanged, most of the Indian transactions in the Gulf have been concluded with discounts in the range of $10-15/mt on FOB basis.

The sources said that Gulf transactions on CFR basis have been in the range of $790-820/mt factoring in discounts offered during transactions.

“The marginal upturn in activity in the Gulf was welcomed by Indian exporters as it offered them a window to maintain their presence in the overseas HDG market as buyers from US were totally absent in the wake of the imposition of import tariffs by the US administration,” a Mumbai-based trader said.

“But most export activity was confined to Indian commercial traders as most domestic mills had reduced their interest in pushing HDG volumes overseas as they were getting good volumes and prices in their domestic market,” the trader added.


Similar articles

CRC and HDG prices drop further in Europe, fail to hit bottom as outlook still negative

29 Mar | Flats and Slab

Ussuri Capital to build low-carbon emissions flats plant in Romania

29 Mar | Steel News

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

US sheet prices tick up modestly ahead of Easter weekend

28 Mar | Flats and Slab

US HDG imports up 10.6 percent in February

28 Mar | Steel News

Chinese HDG export prices mainly stable, with negative bias in some offers

28 Mar | Flats and Slab

Ex-India HDG and CRC prices edge down, trade remains in doldrums

28 Mar | Flats and Slab

HDG consumption in Mexico up 12.0 percent in January

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

US flats source believe HRC prices are “at or near the bottom”

22 Mar | Flats and Slab