Major Indian steel mills have kept domestic PPGI prices remain steady this week amid seasonal slowdown and dull buying interest prevailing in domestic market. However this week traders have also kept PPGI prices stable over sluggish demand and limited movement of material is seen over transportation strike.
A PPGI manufacturer based in Mumbai commented that.”Domestic PPGI prices remain under pressure over lower sales volumes and weaker bookings.Meanwhile transportation strike has hampered the trade sentiments to a great extent”.
Meanwhile few major manufacturers continue to offer PPGI (0.5mm, 90 GSM) at INR 63,000-64,000/MT (ex-Mumbai, GST extra).However JSW Steel’s prices remain stable at around INR 70,000/MT (ex-Mumbai, GST extra).
However in Delhi, major manufacturers PPGI prices are heard around INR 64,000/MT (ex-Delhi, GST extra). Prices are down by INR 500/MT W-o-W.
Last week domestic PPGI prices corrected by INR 500/MT in traders market
Domestic GP Prices continued to remain dull- Domestic GP (Galvanized Plain Coil) prices continued to remain under pressure over tedious demand and passive buying in domestic market.
Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at INR 54,750–60,000 /MT (ex-Mumbai); INR 56,500-60,000/MT (ex-Hyderabad); INR 53,500-54,000/MT (ex-Delhi) and INR 54,500/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.
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