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India: HRC export index drops, active bookings reported

ABSTRACT

Rumours of a hike in Chinese steel export tariffs have resulted in Chinese mills keeping away from actively offering HRCs for export, benefitting Indian players. SteelMint’s India HRC export index stands at $888/t FoB east-coast basis, reporting a drop of $8/t as against $896/t FoB seen a week ago.
Mills have actively concluded HRC export deals to South Korea and Vietnam for Aug-Sept shipments. However, firm price indications/offers were heard for Middle East and Turkey as well. Recent deal concluded: A major government-owned steel mill has booked 20,000 t HRC (SS400) for exports to Vietnam. The deal was concluded at around

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