Indian Steel Mill Books 20,000 MT HRC for Export to Malaysia- Sources

Market sources shared with SteelMint that, a major Indian steel mill has concluded a deal of HRC with Malaysia for August shipments.

A major Indian mill based in western region has concluded a deal of around 20,000 MT of HRC with Malaysia for August shipments.The deal price is around USD 615-620/MT CFR Malaysia.The vessel freight from India to Malaysia is learned around USD 25-27/MT.

Indian mills booked good quantities for export to Vietnam – SteelMint previously reported Indian mills have booked around 1,00,000 MT of HRC (commercial grade) in last 10-15 days days in the range of USD 610-615/MT CFR Vietnam for July shipments.

Absence of HRC exports to European nations amid safeguard investigation has compelled Indian mills to export HRC majorly to South East Asian nations.

Malaysia occupies 4% of share in Indian flat steel exports in Jan-Apr’18 -As per the data maintained with SteelMint,in first four months of CY18 (Jan-Apr) India has exported 0.09 MnT of flat steel to Malaysia and has occupied 4% of share in Jan-Apr’18.However nation exported 0.25 MnT flat steel to Malaysia in Jan- Apr’17.

 

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