[SMM Steel] Indian HRC Sellers Push Export Levels Higher; Billet Holds at 465–470USD/tonne FOB
[India Export] India’s HRC export market showed a firmer tone, with some sellers seeking around 508–510USD/tonne FOB India for Vietnamese buyers. Several primary mills also have HRC cargoes either recently departed or currently being loaded, with some expected to reach Europe around the opening of the next quota period. Billet export indications were heard at 465–470USD/tonne FOB India. Imported ferrous scrap remained largely flat, with shredded scrap around 410USD/tonne CFR India. Domestically, HRC sentiment strengthened, with indications that Ex-yard Mumbai prices could move close to 59,000INR/tonne. Overall, HRC showed the strongest upward momentum, while billet and scrap remained comparatively stable.