Indian hot rolled coil market situation

The situation in the Indian market for hot rolled coils lacks clarity for the time being. There are reports from the region that the major Indian mills may be considering a rise in their price levels in the domestic market by around $10/mt. However, the general sentiment for October prices is that they will remain unchanged from September levels. Similarly, a rise of about the same amount is expected for cold rolled coils too. Lately, there have not been many offers heard in this market. Industry specialists have remarked that hot rolled coil prices may swing into an upward movement if availability remains tight here, and that producers could be going for a further increase when they issue the November prices. It is reported that under the current circumstances some manufacturers are looking to book tonnages from China at around $500-505/mt CFR levels for galvanizing purposes. In the meantime, the latest import bookings of CIS origin are known to be at $535/mt CFR levels. However, no new offers have been observed lately from this region to India.