Indian hrC exporters forced to lower prices amid slow domestic market

摘要

Indian HRC exporters had to lower offers or provide discounts to foreign customers to attract them. Steel consumption in India has weakened again, as monsoon season is at peak.In mid-July, Indian HRC exporters were offering HRC at $475-505/t FoB for end-August – September shipment against $495-505 /t FoB in early July. Such a wide range is explained with high export activity of Indian suppliers on all destinations. The mills had to provide discounts for the customers in Vietnam and the EU as demand in the domestic market was sluggish. “The buying [of HR coils] is slow in India because of the monsoon season. It creates problems with liquidity. The customers know that the market will not improve tomorrow and they wait for cheaper prices. They do not rush and buy only what they actually need,” an Indian source commented on the situation.