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Indian steel export prices have strengthened significantly in recent weeks, amid higher raw material costs, firmer domestic steel prices and expectations of improving demand.
Indian HRC export offers are currently heard at around USD 570-590 per ton FOB India, up by at least USD 30-40 per ton from last month’s levels of around USD 520-530 per ton FOB.
The stronger export market has been accompanied by a significant increase in domestic HRC prices. Flat steel producers were offering HRC at around INR 61,500-63,000 per ton (USD 644-659 per ton) ex-Mumbai, up by around INR 3,000-4,000 (USD 31-42) per ton from late August.
Indian billet export offers have similarly moved higher and are currently heard at around USD 480-490 per ton FOB India, compared with around USD 465-470 per ton previously.
1 USD / 95.5 INR
