Indian hot and cold rolled coil export activity continues to be slow to the EU market, with prices remaining unchanged week-on-week, Kallanish learns from sources.

Slow EU sales are being driven by weak demand, lack of buyer interest, limited export material allocation by Indian mills, and a post-Labour Day holiday slowdown due to extended holidays. Indian mills have been prioritising the domestic market due to better price realisations since April. India also remains absent from the Gulf Cooperation Council market for similar reasons.

As of 6 May, India-origin HRC offers were unchanged week-on-week at $650-660/tonne cfr Antwerp or Bilbao ports, or $595-605/t fob Mumbai, for S235 grade HRC, June/July shipment. Prices could be negotiated down to $640/t cfr.

Comparatively, other Asian-origin offers to the EU ranged between $570-580/t cfr EU ports, while southern EU domestic HRC transaction prices were at €630/t ($714/t) delivered last week.

According to EU Taric data, India’s second-quarter EU HRC category 1A safeguard quota balance stands at 773,769 tonnes, of which 548,750t was transferred from Q1 at end-April/early May. 100% of India’s quota remained available as of 5 May.

India-origin CRC offers were up by $10/t w-o-w to $750-760/t cfr Antwerp, or $690-700/t fob India, DC01 grade, June/July shipment.

The EU’s CRC category 2 safeguard quota balance stands at 323,998t, of which 186,113t was transferred. Quota availability is at 93% as of 5 May.

Indian-origin HR plate offers were flat w-o-w at $705-715/t cfr Antwerp, or $650-660/t fob Mumbai ports, for S275 or S235 grade, June/July shipment.

Indian-origin hot-dip galvanized coil offers fell by $10-15/t w-o-w to $830-840/t cfr Antwerp or $775-785/t fob Mumbai, for 1mm BX51 or Z275 grade, June/July shipment.

Colour-coated coil or pre-painted GI offers were heard lower by $10/t w-o-w at $1,030-1,040/t cfr Antwerp, or $975-985/t fob Mumbai, for 0.5mm Z140 grade, June/July shipment.

The EU metal coated category 4A safeguard quota for India was exhausted as of 21 April. 4B quota availability is at 91% as of 5 May, with a balance of 183,365t – of which 124,071t was transferred. Organic coated category 5 quota availability was exhausted on 14 April.

No new offers are heard this week to the GCC market.