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16 May

Sluggish market sentiment further dampens Indian HRC prices

The downtrend in market sentiment has further dampened Indian hot rolled coil offers. The majority of buyers are now targeting lower bids to fetch a deal from India; however, Indian mills are sceptical about matching those bids, sources tell Kallanish. The market sluggishness, coupled with the recent deal concluded from Vietnam at $655-660/tonne cfr Italy, has slashed bids to around $630-650/t cfr Italy. However, Indian mills are still holding their indications at…
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