• Steel Market Insider

    We strive to let you one step ahead of the market

Steel News
Advanced search
    Key words
  • Search By
  • Date
  • Classification
  • Region
Advanced search

Indian steel importers concern on continuously depreciated rupee

  • A
  • A
  • A
Recently, some Indian importers of hot rolled coil (HRC) have held orders on hand due to depreciated rupee against the US dollar.

It’s known that the contract prices of HRC were at US$640~US$700/ton in the end of October.

However, since rupee has depreciated by almost 15% against the US dollar from the end of October until now, some Indian traders have faced losses in the orders contracted previously.

Meanwhile, Indian steel mills have sought to remain the HRC prices unchanged for December.
News Date 01 Dec 2011 14:47:22 reported by Echo Huo

Rio Tinto reaches production target for Q4...
Finance and economy
17 Jan 2018 12:21
Chinese Hebei Steel’s profit increases by 137.9% i...
Finance and economy
16 Jan 2018 10:17
Tata Steel may ask cash loans from banks to pay of...
Finance and economy
15 Jan 2018 11:00
Sonic Field to acquire Grande Cache mine and resta...
Finance and economy
15 Jan 2018 10:24
Japanese Harita Metal adds new funds for future tr...
Finance and economy
12 Jan 2018 13:20
Most Popular