Indian mills resume HRC export offers to ME after three-month gap
Indian steel mills have recommenced Hot Rolled Coil (HRC) export offers to the Middle East (ME) since mid-Sep'23. Ongoing offers stand at approximately $635-640/t CFR. A recent transaction involving around 20,000 t was reportedly finalised at the same price range for deliveries scheduled from late Jan to early Feb'24. Market demand in the ME region remains strong, with projects progressing as scheduled, according to a ME-based source in the region.