It's reported that the prices of hot rolled coils (HRC) have slid to INR34,000~INR34,500/ton in Indian domestic market in September, decreasing by INR1,000/ton from a month earlier, due to fierce competition against the low-priced imports.
At present, the quotes of SS400 boron-added HRC originated from China are at US$525~US$560/ton CFR. The quotes of SAE1006 HRC offered by South Korea are at US$580/ton CFR. However, the transaction volumes are low due to weak demand.
For the prospect, industry sources said that the HRC prices may drop further in the Indian market in the short term if the demand remains weak