Iran to Ship 10,000 MT of HRC to India.
As per vessel line up data maintained with SteelMint, another vessel of HRC import from Iran is to arrive at Indian port.
As per the bulk vessel data maintained with SteelMint, the vessel “Kengtung” carrying 10,000 MT HRC is seen at anchorage at Mumbai port. As per reports, the shipper is Mobarakeh Steel Company.
SteelMint in its earlier report mentioned that Indian steel mills imported 32,000 MT of HRC from Iran via vessel named “Platamon” and second shipment of 31,850 MT on vessel “Sea Sapphire”.
Towards end of Jan'19, SteelMint reported that Indian mills had booked the HRC from Iran at around USD 450/MT CFR basis for March shipments from Iran.
Domestic HRC, CRC prices stable; trades weaken amid holidays- Current trade reference prices in traders market for HRC (IS2062) 2.5 mm-8 mm is around INR 42,500/MT (ex-Mumbai) and INR 42,500/MT (ex-Delhi) and INR 44,500/MT (ex-Chennai). The prices mentioned above are basic prices excluding GST @ 18% on cash payment basis.
Currently trade reference prices for CRC (IS513) 0.9mm is hovering in the range of INR 46,500-47,000/MT (ex-Mumbai), INR 47,000-48,000/MT (ex-Delhi) and INR 51,000/MT (ex-Chennai). The prices mentioned above are basic prices excluding GST@18% on cash payment basis.
This week Indian HRC trade prices have remained range-bound amid sluggish trades in domestic market. Market participants are in a festive mood amid Holi holidays which has led to dull sentiments in domestic market.
source: SteelMint
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