Domestic PPGI prices in India have remained unaltered this week owing to limited buying and slow demand prevailing in the domestic market. However the manufacturers are hopeful that buying will pick up in the coming days.
According to market sources report to SteelMint, price assessment of PPGI (0.5mm, 90 GSM) of major manufacturers is around INR 63,000/MT (ex-Delhi, GST @ 18% extra) and INR 60,000/MT (ex-Mumbai, GST @ 18% extra).
However in retail market, price assessment is around INR 58,000-58,500/MT (ex-Mumbai, GST@ 18% extra).
A major manufacture of PPGI based in Delhi quoted that,” Buying sentiments for color coated in domestic market is slow as HRC prices in domestic market are also witnessing corrections. However on the other side manufacturers are planning to increase the prices in domestic market as demand is expected to pick up in the coming days”.
Since domestic manufacturers are optimistic about improved demand for PPGI in domestic market as the peak season for PPGI starts from Apr to Jun. It will be interesting to see whether price hike will be absorbed in the market or not.
India’s Colour Coated Steel Industry – Overview
As per reports, India has colour coated sheet production capacity of about 1.9 MnT a year and the domestic consumption is about 1 MnT a year, according to industry estimates.
Domestic colour sheet consumption is growing at the rate of 15-16% over the past few years with improving demand from automotive and white good manufacturers.
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