Chinese plate export offers reported decline by USD 10/MT this week owing to subdued demand and weakening market sentiments experienced in domestic market.Also rising inventories among Chinese steel mills amid low buying has lead to fall in plate export offers from China.
Currently plate export offers are heard in the range of USD 555-560/MT,FoB China.Last week the offers are assessed at USD 565-570/MT FoB basis.
Meanwhile plate prices for commercial grade 14-20 mm in China’s domestic prices registered fall of RMB 60-100/MT and are in the range of RMB 4,020 – 4,100/MT,including VAT
Major plate exporters in China are offering around USD 560/MT,FoB basis.Chinese mills have started providing discounts to overseas buyers but still they are expecting further drop in plate prices.
Domestic Plate Prices in India Remain Unchanged-This week domestic plate prices remain unchanged amid weak buying in domestic market. Demand remained sluggish and prices continued to remained on higher side.
Currently trade reference prices for plates (grade IS2062) 5-10 mm are hovering in the range of INR 43,500/MT (ex-Chennai) and INR 43,000-43,800/MT (ex-Delhi).
However traders reported lesser buying enquirers in the domestic market.Although despite sluggish demand Indian manufacturers are anticipating further increase in plate prices in Feb’18.
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