India Steel Market Watch
December 2: Imported hot rolled coil offers to the Indian market fell sharply after imposition of the 20% safeguard duty by the government.
Current offers for commercial grade HRC offers are assessed at US$ 274 per ton CFR India, whereas offers from Korea and Japan are assessed at US$310 per ton CFR India for December shipments.
According to unconfirmed reports, offer prices of hot rolled coils (HRC) imported into India from China have fallen to $270 per ton CFR Mumbai for December shipments.