[SMM Steel] Indian HRC Prices Largely Stable; European Offer Targets Rise

Published: Oct 06, 2026 16:45 (GMT+8)

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[India Export] Indian HRC price references remained largely unchanged, with the Europe-linked assessment held at 660USD/tonne FOB India. Market participants reported Indian offers above 750USD/tonne CFR Europe, with suppliers targeting 760–770USD/tonne CFR, although fresh transactions at these higher levels were not confirmed. European production difficulties supported sellers’ price expectations despite subdued buying. For Vietnam, participants cited Indian HRC indications near 550USD/tonne FOB India for December–January shipment, but said major mills were not actively offering to that market. Domestically, Mumbai HRC remained at approximately 656USD/tonne (63,000INR/tonne) EXW, excluding 18% GST. Firm input costs and restricted spot availability continued to support domestic sentiment, while buyer acceptance of higher offers remained the key test for further price gains.

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