[SMM Steel] Indian HRC and Billet Prices Hold Flat as Festive Season Slows Trading

Published: Oct 19, 2026 16:06 (GMT+8)

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[India Export] Indian HRC indications for Europe remained around 750USD/tonne CFR North Europe, while billet export asking levels held at 490–510USD/tonne FOB India, with fresh transactions at these levels muted. Fresh HRC offers to Vietnam and the Middle East remained limited. Domestically, HRC indications were unchanged at approximately 659–664USD/tonne (62,500–63,000INR/tonne) EXW Mumbai, excluding 18% GST. Market activity remained slow during the festive season ahead of the Dussehra holiday on October 20. Reported mill maintenance and earlier coking-coal price increases feeding into production costs continued to support sellers’ offers despite subdued buying. Last week’s rupee appreciation also reduced rupee returns at unchanged dollar export prices. Overall, prices remained flat, with post-holiday buying expected to provide a clearer test of acceptance at current asking levels.

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[SMM Steel] Indian HRC and Billet Prices Hold Flat as Festive Season Slows Trading​

[SMM Steel] Indian HRC and Billet Prices Hold Flat as Festive Season Slows Trading