India imports HRC from China, high price tends to fall.

Oct. 22 MetalBiz--Since 2009, steel demand from India keeps the soaring trend all the time, the domestic price maintains the high level. With the decline of China's price, some traders started to import HRC from China.

At present, India decreases the HRC import price to US$480-485 per ton (CIF) from US$495-500 per ton two weeks ago, but the falling extent is lower than the expectation's US$20-25 per ton. The HRC price imported by S. Korea from China also slid to around US$475-480 per ton (CIF).

In addition, the appreciation of India's rupee is also another reason promoting HRC imports, in the past one month India's rupee went up by at least 5%, which makes India's steel import much cheaper.

The local traders stated that recently they place an order for around 10,000-30,000 tons of HRC from China respectively, a large amount of import forces the higher domestic HRC price to slip.