Saudi Arabia: Ma'aden to hold $480/mt CFR in India

摘要

Ma'aden remains in discussions over new business to South Asia and its latest business to India was concluded at $480/mt CFR for August shipment. Up until this week, Indian buyers had been putting pressure on suppliers to lower prices with the rupee at a near two-year low against, but with the increase in Chinese VAT, Ma'aden has indicated that they will likely keep their price levels around $480/mt CFR on near term sales.