Date: 25 February 2020 , 20:08
News ID: 8609
NEWS SERVICE: IRON and STEEL

Indian HRC Import Prices Fall in Recent Booking

HRC import prices to India have come down sharply in a recent deal concluded, SteelMint learned from its close sources. A major South Korean steelmaker has concluded a deal for 10,000 MT HRC (SAE 1006 re rolling grade) with an Indian importer (steel manufacturer) at USD 500-503/MT CFR India for April shipments. The import booking is likely to arrive at Kandla port. The import price is lower by USD 20-22/MT against the last booking reported by SteelMint at USD 525/MT, CFR India in Jan'20.
Indian HRC Import Prices Fall in Recent Booking

Meanwhile few sources claimed that other Mumbai based stockists have booked another 10,000 MT HRC for imports at USD 505-510/MT CFR India. However, this could not be confirmed while publishing this article.

-- Few sources close to the matter shared that Japanese and Korean mills have withdrawn the offers and no firm booking was reported.

-- As per our calculation, the landed cost of HRC imports to India is hovering around INR 38,000 MT (ex-Mumbai). However, in contrast to this, last week Indian HRC trade prices were heard to be around INR 38,500-39,000/MT (ex-Mumbai). Prices mentioned above are basic, and extra GST @ 18% is applicable.

Indian HRC/Plate imports up by 7% in Jan '20- As per data maintained with SteelMint Indian HRC/plates imports stood at 0.15 MnT in Jan CY' 20 which was around 0.14 MnT in Dec'19.South Korea occupied a major share of 86% at 0.13 MnT in Jan'20, followed by 0.01 MnT each from Japan and Indonesia.

source: SteelMint
Indian HRC price SteelMint import
Top News
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
Twelve Days ago
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Six last month
"Sustainability and innovation in production and development, excellence in culture", the orientation of Mobarakeh Steel Co. to realize the motto of 2024
Six last month
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Five last month
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
Five last month
The President visited the Sungun Copper Complex
The President visited the Sungun Copper Complex
Two last year
Most Like