This week domestic PPGI prices continued to remain firm as buying activities have picked up in the domestic market. In the beginning of month, major Indian manufacturers increased prices of PPGI by INR 1000/MT in domestic market.
According to market sources report to SteelMint,trade reference prices of PPGI (0.5mm, 90 GSM) is around INR 60,000-60,500MT (ex-Mumbai) and INR 62,500-63,000/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST@18%.
However PPGI (0.5 mm, 90 GSM) offers from major Indian steel mill – JSW Steel remain on higher side which stood at INR 71,000/MT (ex-Mumbai) since steel mill is currently holding limited quantities, as per sources.
A manufacturer based in Mumbai commented that ,”Buying sentiments have improved in domestic market for PPGI as the peak season has arrived.Mills are currently looking for fresh bookings on better demand .As the monsoon season starts trade activity will be limited”
Meanwhile no fresh import bookings for PPGI has been heard in the market post imposition of Quality Control Order on color coated and Galvanized steel in mid of Feb’18 by Indian Steel Ministry.
Also few market sources shared that if demand shows further improvement in the market then it may lead to rise in PPGI prices in coming month.
Domestic GP Prices remained stable this week-This week GP prices remain unchanged in the domestic market.Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at INR 56,500-57,500/MT (ex-Mumbai), INR 56,500/MT (ex-Delhi) and INR 56,000-60,000/MT (ex-Hyderabad) and INR 55,500/MT (ex-Chennai).
Previously mills in the domestic market have increased GP (Galvanized Plain Coil) prices upto INR 1000/MT in the beginning of Apr’18.
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