Major Indian manufacturers have increased domestic PPGI prices upto INR 1000/MT. Hike of INR 750-1000/MT in in domestic HRC prices has also continued in downstream products too.
According to market sources report to SteelMint, price assessment of PPGI (0.5mm, 90 GSM) of major manufacturers is around INR 63,500-64,000/MT (ex-Delhi, GST @ 18% extra) and INR 59,000 – 60,000/MT (ex-Mumbai, GST @ 18% extra).
However few trade sources mentioned that PPGI offers from JSW Steel have remained on higher side.
On the other hand imported material of PPGI are hovering on lower side which is heard around INR 56,500/MT (Ex-Mumbai) and INR 62,500-63,000/MT (Ex-Delhi). Imports of PPGI is majorly coming from Vietnam and China. However with Indian Steel Ministry notifying Quality Control Order on color coated and Galvanised steel in mid of Feb’18, imports bookings are expected to come down.
However manufacturers in domestic market have mentioned that buying as shown slight improvement in domestic market amid starting of peak season from April to June.They remain hopeful regarding acceptance of higher prices of PPGI in domestic market.
Domestic GP Prices remained on higher side-After increase in flat steel prices ,its effect is also seen in downstream products.
Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at : INR 54000-56000/MT (ex-Mumbai), INR 56,000/MT (ex-Delhi) and INR 56,500-60,000/MT (ex-Hyderabad).
Previously Indian mills have increased the prices of GP by INR 1000/MT in the month of March.
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