6.02 SMM Global Steel Daily Report

Published: Jun 2, 2026 17:53

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[India] Recently, Indian HRC FOB prices were at 550 - 555 USD/tonne. As domestic demand declined with the approaching rainy season, coupled with Brazil's anti-dumping measures against certain Chinese products, Indian exporters were attempting to target Brazil as a market for selling steel products to capture market share. According to surveys, freight costs from India to Brazil were approximately above 100 USD/tonne. Due to excessively high transportation costs, this was not expected to materialize in the short term. If the rupee continues to depreciate and prices continue to decline, it may attract buyers from Brazil.

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