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India: SteelMint HRC export index drops in recent deals

ABSTRACT

Indian mills have resumed offering hot-rolled coils (HRC) for exports to Vietnam and the UAE after a gap of around two weeks. Interestingly, apart from their usual destinations (the UAE, Vietnam and Europe), mills managed to clinch a deal to Turkey as well last week.
SteelMint’s Indian HRC (SAE 1006) export index stands at $1,010/tonne (t) FoB east-coast basis, down by $20/t against $1,030/t FoB week-on-week (w-o-w). Deal concluded:A major private steel-maker is reported to have booked a cargo of around 20,000 t of HRC on 7 June’21 to the UAE at $1,050-1,055/t CFR for July

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