[SMM Steel] Indian HRC Holds Firm on Coking-Coal Costs and Mill Maintenance
[India Export] Indian HRC offers to Europe remained firm at around $640/tonne FOB India and $715–730/tonne CFR North Europe, although trading was slow and no fresh transactions were confirmed. Firm coking-coal prices continued to support mill offers. Chinese HRC was offered at $550–555/tonne CFR India; after adding the 12% import duty and other landing charges, its landed cost would be broadly comparable with the prevailing Indian domestic price of $668/tonne (INR 64,000/tonne) ex-yard Mumbai, limiting the price advantage of imported material. Domestic HRC prices remained supported by steady buying, firm raw-material costs and temporarily lower supply during maintenance shutdowns. A major Indian steelmaker’s HRC mill is currently undergoing maintenance. Such shutdowns typically last 7–10 days and are not expected to materially disrupt deliveries, but the temporary reduction in availability is sufficient to keep domestic prices firm.