Indian importers ask for $20 reduction in HRC offer prices

Apr 30, 2012 | 09:31 AM |

Indian importers are asking for a $20 per tonne reduction in offers of commercial-grade hot rolled coil (HRC) as a weakening rupee-dollar exchange rate has resulted in fewer transactions, market participants told Metal Bulletin. Offers for HRC imports into India, mainly of Chinese origin, are currently at $660-665 per tonne cfr Mumbai for shipment in June. Offers from Iran are in the same range for commercial-grade material, while Iranian cold rolling-grade coil....

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