India’s steel mills have again held back on export offers, apart from the European Union, for three months now given stiff competition from China that continues to be 10-20 per cent lower-than-expected market rates.
Mills here placed the last export offers at $660 per tonne (for benchmark hot rolled coils) against which the competing Chinese offers were sub-$600 (around $580-590/tonne).
https://www.thehindubusinessline.com/economy/indian-steel-mills-continue-to-hold-back-export-offers-to-south-east-asia-me-in-dec-green-shoots-seen-in-eu/article67633102.ece
