South Korean Mills Lower HRC Offers to India
SteelMint in conversation with market participants learned that Indian HRC import offers from Korea reported decline by around USD 10/MT for July- August shipments.
Recent offers for HRC (2mm) is learned to be around USD 530/MT, CFR India against previous offers of USD 540/MT, CFR.
As per update received from market sources, India based rerollers and stockists are in discussions for HRC booking from South Korea.
Thus as per calculations, landed cost of imported HRC to India will remain around INR 38,500-39,000/MT. Meanwhile domestic HRC prices (2.5-8mm) in traders market is assessed around INR 41,000/MT (ex-Mumbai).
Prior to this towards the end of May'19 Indian based rerollers and stockists have booked around 20,000 MT of HRC from major steel mill based in Japan at around USD 540/MT CFR India for July shipments.
Amid significant downtrend in global HRC offers from major exporting nations like Japan and Korea amid FTA (Free trade agreement) and dull domestic market may put domestic HRC prices under pressure.
As per reports, Indian steel ministry is trying to reach commerce ministry to relook the import duty that govern the steel imports into India as current anti dumping reference price levels are not viable in accordance with global prices.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
