[SMM Steel] Indian HRC Prices Hold Firm; Maintenance and Full Order Books Raise Supply Concerns

Published: Oct 09, 2026 16:38 (GMT+8)

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[India Export] Indian HRC references held around 670USD/tonne FOB India for Europe, with offers at 750–760USD/tonne CFR North Europe and Middle East indications at 620–630USD/tonne CFR. The Vietnam reference remained around 575USD/tonne CFR, with no fresh firm Indian mill offers confirmed. Billet stood at 467.5USD/tonne FOB India. Domestically, HRC held around 664USD/tonne (64,000INR/tonne) EXW Mumbai, excluding 18% GST. Market participants said Tata Steel’s Meramandali maintenance could last around three weeks, with distributors reportedly told to expect only 15% of their usual HRC allocations. Two other major steelmakers reportedly had full order books covering domestic or export commitments. Participants consequently expect a near-term HRC shortage, supporting domestic sellers’ firm stance, while higher European offers still await confirmed transactions.

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