Export prices for Indian hot-dip galvanized steel coil changed
time2017/04/17
Export prices for Indian hot-dip galvanized steel coil have fallen by about $20/mt over the past week as sluggish overseas demand saw exporters dropping their offers, Indian market sources said Friday.
Transaction prices of base-grade 0.3 mm thick soft coil with 90 grams/square meter zinc coating averaged $855-865/mt CFR USA, including about $60/mt freight for shipments in end-May/June, down from $875-885/mt CFR the previous week.
"When mills don't get orders and realize that in two weeks their machines will start to gather rust, they panic and are ready to drop prices," a Mumbai-based trader said.
But bids from overseas customers remained $30-40/mt lower than Indian export offer levels, the trader said.