[SMM Steel] Indian HRC Export Offers Hold Firm as European Buyers Resist Higher Prices

Published: Sep 11, 2026 16:28

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[India Export] Indian HRC export indications for Europe remained at 590–600USD/tonne FOB India on September 11, with European discussions continuing at 695–700USD/tonne CFR. Some sellers mentioned 715USD/tonne CFR North Europe, but no transaction was confirmed at that level. Indian sellers held their position as reduced European spot availability, higher energy costs and expectations of seasonal production cuts supported regional mill pricing. Northern European HRC prices were around 730–750EUR/tonne EXW, while offers at 770EUR/tonne EXW continued to meet buyer resistance. Italian HRC prices were around 720–730EUR/tonne EXW, although trading remained limited as downstream buyers adopted a wait-and-see approach. Firm European domestic values consequently supported Indian export indications, but subdued spot activity, quota exposure and uncertainty over customs-clearance timing kept importers selective at the upper end of the CFR range.

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