Affected by the rainy season, the Indian domestic HRC demand remains in the doldrums, but the prices remain stable, 3mm thick hot rolled coil prices stable at 28.5-30.5 thousand rupees / tonne (USD448-479 / ton).

The Indian government raised the steel import duties can support prices for HRC in the short term. Many mills said it would maintain a stable price of HRC in July. However, there are expected price of hot rolled steel will decline by 500-1000 rupees / tonne.

Indian mills remain under pressure from low-priced imports of resources, China’s 3mm HRC offered at USD396 / ton (CFR, including tax), Japan and South Korea’s 1.4mm-2mm HRC price quoted at USD390 / ton (CFR ), compared to the previous down by USD10 / ton.

                                                                XINSTEEL NEWS