27
Oct
15:02
Export duties severely hurt India's August HRC exports
Following the duty imposition on Indian steel exports in May, the nation’s hot-rolled flat product shipments abroad plummeted 97.7% on-year to 16,072 tonnes in August, against 697,875t a year earlier.
The drop in exports is attributed to an additional 15% duty to be paid for exporting non-alloy hot rolled coil, also coupled with the reluctance of European buyers to accept boron-added HRC as a bypass for duties. Despite Indian mills lowering offers for August…
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Anonymous
Very good overview of the weekly steel market.
Anonymous