[SMM Steel] Indian Steel Prices Remain Firm as Export Sales Stay Subdued​

Published: Sep 21, 2026 16:18
[India Export] At the beginning of this week, Export prices for HRC held flat at 640USD/tonne FOB India and 715–730USD/tonne CFR North Europe, while billet remained around 470USD/tonne FOB India. European buying remained cautious as participants awaited clarity on quota implementation and shipment timing; the additional FTA quota cannot yet be treated as operational because the agreement has not entered into force. Mumbai HRC was heard at around 668USD/tonne (64,000INR/tonne) ex-yard and 626–632USD/tonne (60,000–60,500INR/tonne) EXW, excluding GST, with a possiblity of further rise this week. Higher coking-coal and met-coke costs continued to support domestic pricing, while export demand remained subdued.

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