SteelMint's India HRC (SAE1006) export index dropped to a 9-month low, after falling by $25/tonne (t) w-o-w to $725/t FOB east coast. Similar levels were last witnessed in early Mar'21. Meanwhile, trade activities have picked up marginally on lower prices. However, significant trade volumes in exports stand awaited which may somehow ease selling poressure on mills.
Rationale: Thirteen indicative prices were considered as T2 inputs, while no export deals were reported as T1. The final price was an average of T1 and T2 inputs which stood at $725/t FOB. The CFR prices were converted to FOB equivalent by deducting freight costs from the buyer/seller.
Offers for the