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22 Feb

India drops HRC offers amid currency volatility

The recent depreciation of the United States dollar versus the Euro has helped Indian mills secure large tonnage hot-rolled coil deals in Europe. Despite dropping the offers in euros amid a surging coking coal price-led cost-push, the Indian mills gained in dollar realisations, Kallanish notes. Last week, a deal for 40,000-50,000 tonnes of Indian-origin structural grade HRC was booked at $770-775/t cfr Italy by an Indian steel major for April shipment, netting bac…
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