Prevailing sluggish sentiment coupled with falling and vanishing bids from buyers have led Indian mills to drop their hot rolled coil export offers. Moreover, Russia has started offering HRC in the Indian domestic market, further denting the sales scope of Indian mills in their own backyard. To counter the competition, Indian HRC offers have dropped by almost $60-70/tonne on-week, sources inform Kallanish.
Russia has reportedly offered base-grade HRC at $650/…
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