Indian steel mills' export price of hot-dip galvanized steel remained stable last week, but actual transaction volume was not significant.
India's major export markets for hot-dip galvanized steel included the Arab countries in the Middle East, Southeast Asia, etc., but current demand was sluggish. Buyers did not submit a firm-bid and other response to Indian steel mills or export dealers.
Market participants said that as the hot-dip galvanized steel offer from China mills has not fluctuated, so the buyers were inclined to wait for further price dropped, then considered proposing its target prices.
At present, Southeast Asian buyers believed that current market price had to be decreased further, so it was possible to place orders. However, Indian mills didn't actively follow up on this, and actual orders have not yet come out.
Source from YIEH CORP
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