Due to the poor domestic demand and the relatively low imports of hot coils from Russia and Ukraine, major Indian steel companies have recently lowered the price of domestic steel and steel for August delivery by about 1,500-2,000 rupees / ton. This week, the domestic Mumbai market spot mainstream transactions The price is around Rs 58,000-59,000/ton. The cost of the imported resources ordered in the early stage is about Rs 53,000/ton, which has lowered the Indian spot price to a certain extent. In addition, local steel mills also lowered their export offers. It is reported that the export price of SAE1008 HRC from Indian blast furnace factories fell to US$565-570/ton this week. At the beginning of the week, the export price of about 25,000 tons of boron-containing HRC was traded at US$630/ton CFR to Saudi Arabia. The session fell to 620-630 US dollars / ton. China’s HRC export prices were generally stable on Thursday, with some large steel mills offering higher prices at US$630-640/ton, while mainstream export offers were at US$600/ton. The price of a SAE1006 HRC traded to the UAE this week was US$670/t cfr. The FOB price of mainstream HRC export resources in Russia is about US$600/ton FOB, while the export price in Japan is US$610-620/ton FOB. In contrast, India has obvious advantages in HRC resources, mainly targeting the Middle East and European markets.

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