The market expects hot rolled coil (HRC) offers in China and Vietnam to increase again after the Chinese New Year holiday, and professional organizations also predicted that Indian HRC prices would increase.
There are three reasons why India HRC prices are rising;
Firstly, Chinese steel mills have continuously raised their offers since the end of last year.
Secondly, the buying momentum in overseas markets, including the Middle East and Vietnam, is heating up.
Thirdly, after the abolition of the Indian export duty, the EU increased the order for Indian goods.