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India HRC FoB Index up on global cues and market gains

Indian mills remain less active in exports on higher domestic realizations. Mills have raised domestic HRC prices by around INR 2,000/t this week. Chinese mills resume HRC export offers, market awaits clarity
SteelMint’s Indian HRC (SAE 1006) export index increased by around $45/t on a weekly basis and stood at $785/t FoB basis against $740/t? last week. Mills are eyeing for export offers mainly to UAE at around $800-820/t CFR basis. However no major deals booked since Chinese mills are offering around $730-760/t

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