Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
We have learned that China SPFC490 steel has recently quoted a price of $550/ton CFR for Indian heat coils, with an August shipping schedule. However, Indian heat coil importers have offered a counteroffer of approximately $530-535/ton CFR for Chinese heat coils, a decrease of approximately $10-15/ton from last week. While Indian buyers have seen a significant decrease in bargaining, we have learned that India has imported approximately 70000 tons of Vietnamese hot coils at a price of $575-580 per ton, with an August shipping schedule.
Although the price of Indian imported Vietnamese SPFC490 steel hot coils is relatively high, due to free trade policies, Indian imported Vietnamese hot coils are exempt from import tariffs, while imported Chinese hot coils require a tariff of 8.25%.
The Indian importer stated that the current price of hot coils imported from India to Vietnam is approximately 49750-50250 rupees per ton EXW Mumbai. If the price of imported hot coils from China wants to reach the corresponding level, they must be imported at a price of approximately 530-535 US dollars per ton of CFR (approximately 49700-50150 rupees per ton of EXW Mumbai).
We also learned that the current ex factory price of hot coils in India is approximately $595-610 per ton EXW, with a weekly increase of about $10 per ton. Some market participants have expressed that Indian SPFC490 steel mills are not in a hurry to ship and are currently unwilling to lower prices for sale.
