Indian mills have raised their offer prices for exports of commercial-grade hot-rolled coil (HRC) by at least $10 per tonne to $670-675 per tonne fob Indian ports, compared with bookings achieved about a week ago at $660-665 per tonne fob Indian ports.
But the mills have not been able to achieve HRC export bookings after raising their export offers, market participants said."We have not booked HRC for exports at the current price [of $670-675 per tonne fob] but Indian mills are not relenting. These offers are commercially unviable, particularly for exports to Southeast Asian destinations," one market...