Indian Steel Mills Book 35,000 MT HRC from Japan
As per the recent update received, Indian HRC importers booked around 35,000 MT of HRC from Japan for April shipments via two deals concluded almost 10-days back.
Market participants shared with SteelMint that around 25,000 MT of HRC has been booked from Japan at USD 565-570/MT CFR India for April shipments.
Meanwhile in another deal concluded, Indian importer has booked around 10,000 MT HRC from Japanese mill at USD 555-560/MT CFR India for April shipments.
However domestic HRC prices in Mumbai region is around INR 42,500-43,000/MT. All prices mentioned above are basic and extra GST @18% is applicable.
Indian HRC Import bookings from Iran - As per the bulk vessel data maintained with SteelMint an Iranian steel mill has shipped 32,000 MT HRC. The vessel “Platamon” is expected to arrive at Mumbai port today. As per sources, the shipper is Mobarakeh Steel Company.
Another vessel ‘Sea Sapphire’carrying 31,850 MT HRC from Iran is expected to reach Mumbai on 16 March 2019.
Indian HRC Imports in Jan-Feb’19 - In first two months of CY19 India imported almost 1 MnT of flat steel. Major exporting nations included South Korea at 0.46 MnT, Japan at 0.18 MnT , China at 0.11 MnT followed by UK at 0.05 MnT and Russia at 0.05MnT in Jan-Feb’19.
source: SteelMint
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