| Export and Import Levels | ||
| Indian steel import scenario (WEEK 34) - 25 Aug, 2008 | ||
|
Scrap With the crash of global scarp levels, offers are coming at lower levels and are reported in a wide range of USD 450 to USD 600 per tonne form different sources for various origins. Thus the market is not clear. However most of the market sources have informed of offers at USD 500 to USD 520 CNF India. Scrap Various USD 500- USD 520 CNF Mumbai HRC – Structural grade As indicated earlier that imports would start, structural grade HRC imports are picking up and several transactions have been reported this week for Chinese origin cargos, including stock lots. As per market reports, one stock lot parcel of 20,000 tonnes was booked by a large buyer at USD 980 CNF levels earlier and recently a 2,000 tonnes stock lot parcel was concluded at USD 960 levels and for a 800 MT parcel at USD 955 per tonne on CNF level. Traders are expecting that Indian steel majors would at least maintain their price line. As Chinese mills are very aggressive, Indian traders are moving fast for prompt cargos and some of them are reported to have rushed to China to secure prompt parcels. It is reported that now some negotiations are going on at USD 930 to USD 940 CNF levels But with the negative sentiment, overseas mills may accept even lower firm bids in the coming weak. China USD 940-USD 960 CNF Mumbai HRC for cold rolling The offer levels of traditional Russian suppliers are not available. But it is reported that South East Asian mills are making aggressive offers to Indian cold rollers in the range of USD 1030 to USD 1050. It is also reported that stock lot are being offered at USD 965 levels. De to the dip in international levels, most of the buyers have postponed their buying and as result most of the Indian Galvanizers are running on a very thin order book. As a result, they are reported to have reduced their production, which has in turn reduced their requirement of HRC. But some transactions are expected to be concluded at levels less that USD 1000 soon for prime rolling. South East Asia USD 1000-USD 1040 CNF Kandla SteelPrices-India has started this update on import levels this week on request from many its subscribers. We shall be adding more products in coming week. To get such updates from next week, please subscribe to the daily domestic benchmark product services of www.steelprices-india.com. | ||
| Today's News | ||
| Clips | ||
 | Japanese stainless output down in September | |
|
| Chinese steel import applications to Europe stay high in October | |
| News And Trends | ||
|
| Chinese CRC export price tends to level off | |
|
| TISCO cuts stainless steel export price by USD 750 per tonne | |
|
| Japanese SS mills pending price negotiation with Asian buyers | |
| Export And Import Levels | ||
|
| Steel export shrinks to 379, 000 tonnes in October | |
|
| Iron Ore prices may halve in 2009 on slump | |
| Trade Issues | ||
|
| US slaps duties on China welded steel pipes | |
|
| Indian forging industry opposes import duty on steel | |
