India Steel Market Watch
October 14: Imported hot rolled coil offers to the Indian market were down further after imposition of the 20% safeguard duty by the government.
Current offers for commercial grade HRC offers are assessed at US$ 297 per ton CFR India, whereas offers from Korea and Japan are assessed at US$327 per ton CFR India for November shipments.
According to unconfirmed reports, offer prices of hot rolled coils (HRC) imported into India from China have fallen to $290 per ton CFR Mumbai for November shipments.
Indian importers are cautious about making fresh bookings, sources said.