Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
At present, some Indian buyers have ended their holidays and returned to the trading market, but due to high inventory, local hot coil transactions in India are still sluggish. According to our report, the local hot coil prices in India decreased by approximately $24/ton on a week on week basis last week, with ex factory prices of approximately $661-673/ton EXW. As of the publication date, prices remained stable. The trading atmosphere is poor, and considering profits, Mysteel has learned that some Indian DX52D+ZA steel mills have expressed willingness to even lower prices to export hot coils in an effort to maintain local prices for hot coils. In such a fundamental situation, Mysteel has heard that some Indian steel mills have started quoting Vietnam this week, with prices ranging from approximately $635-645 per ton of CFR. Currently, the mainstream export price for Indian hot coils is around $635 per ton FOB DX52D+ZA steel.
The Indian quotation has a certain advantage over the local hot coil prices in Vietnam. Due to the high prices of raw materials in Vietnam, the quotation for hot coils continues to strengthen. Currently, the quotation for Vietnam and hot coils is approximately 640-641 USD/ton CIF Ho Chi Minh City DX52D+ZA steel.
