Traders said that with the end of India festival of Eid al Adha, the market transaction was rebounding now. Traders also said that because the HRC offer from South Korea and China dropped by US$20~US$25/ton, most buyers were holding a cautious attitude to make the decision. Up to now, there is no transaction agreed for foreign resources. The source said that because of the depreciation of Indian currency and slack demand, the Indian HRC would probably keep going up and down in the near future and if imported offer falls further, it may cause some pressure upon the domestic price.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67063&division=A2
