Indian hot dip galvanized (HDG) exporters have failed to make much headway in pushing volumes into the US market despite keeping their offers unchanged at around $870-875/mt CFR US following previous reductions, against the backdrop of falling ex-China HDG offers, traders said on Wednesday, October 15.
According to a Mumbai-based trader-exporters, Chinese exporters have lowered their HDG offers by $15-20/mt on FOB basis since early this month to the range of around $620-625/mt and Indian exporters have been unable to match this competition, leading to very few transactions concluded during the week.
Market sources also said that US flat product prices have remained stable, indicating that the upward trend may be running out of momentum with higher domestic production and hence importers are cautious about concluding import transactions, barring extremely low offer ex-China.
Indian HDG exporters still unsuccessful in pushing volumes to US market
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