Indian HDGI export offers reported decline this week.Market participants mentioned that Indian steel mills have declined their HDGI (SGCC dx 51a) export offers which are at USD 710/MT,FoB basis. However last price assessment for HDGI export offers was made in the levels of USD 730/MT, FoB India.
Domestic Galvanized plain (GP) coil prices in India decline this week by INR 500-1000/MT owing to gloomy and bearish sentiments in the domestic market.Traders remained distressed since the domestic demand is not showing any major shift and material movement remained slow which results to decline of GP prices.
As per SteelMint assessment, reference prices of GP (120 GSM) 0.8mm for this week are hovering in the range of INR 48,000-52,000/MT (ex-Mumbai), INR 49,000-50,000/MT (ex-Chennai),INR 49,800-50,500/MT(ex-Delhi) and INR 51,000-53,000/MT( ex-Hyderabad). The prices mentioned above are basic excluding GST @ 18%.
Chinese HDGI export offers remained steady-Chinese HDGI (Hot Dipped Galvanized) export offers remained steady against last week and are heard in the levels of USD 640-650/MT FoB basis.Some deals have been concluded with South America and Middle East in the range of USD 645-650/MT FoB basis.
Also major mills in China have rolled over the HDGI prices and other mills are been offering in the range of USD 640/MT FoB basis.
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