According to Joint Plant Committee, (govt. Of India) Indian GP/GC exports reported significant decline of 35% to 0.85 MnT in the tenure of Apr-Dec of FY18 against 1.30 MnT in similar time frame of previous fiscal.
Major destinations were Belgium,Ethiopia Indonesia followed by Italy ,Poland and Portugal.
Domestic GP prices in India remain unaltered – Domestic GP (Galvanized plain coil) remained steady this week amid limited bookings were heard in domestic market.
Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at : INR 55,000MT (ex-Mumbai), INR 54,500/MT (ex-Chennai), INR 54,500/MT (ex-Delhi) and INR 55,500-56,000/MT (ex-Hyderabad).
Chinese HDGI export offers remain mute ahead of Lunar New Year Holidays-Major Mills in China have suspended HDGI export offers amid Lunar New Year Holidays.This week Chinese HDGI (1 mm) export offers remain largely unchanged and no major deals have seen concluded.
Currently HDGI 1mm 120 g zinc coated export offers are assessed at USD 670-680/MT,FoB China
Also few trade sources mentioned that owing to winter production cut which has been extended till Mar’15 will definitely push up the Chinese steel prices on higher side.
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