India: Domestic PPGI Prices Remain Stable

This week PPGI (Pre painted prices) remain largely stable over improved bookings happening in domestic market.

Last week Indian steelmakers had reduced domestic PPGI (Pre Painted Galvanized Coils) prices by upto INR 1,000-1,500/MT M-o-M basis amid seasonal slow down.

JSW Steel’s current prices is at around INR 68,500/MT (ex-Mumbai, GST extra).Meanwhile few major manufacturers continue to offer PPGI (0.5mm, 90 GSM) at INR 62,000-63,000/MT (ex-Mumbai, GST extra).However in Delhi, major manufacturers are offering PPGI prices around INR 63,500-64,000/MT (ex-Delhi, GST extra).

Market participant mentioned that,”Buyers have been responsive amid improved bookings after price correction in domestic market”.

Galvanized Plain Coil prices remain unchanged– Galvanized plain coil prices remain unchanged this week.Last week domestic GP (Galvanized Plain Coil) prices witness correction by INR 500-750/MT W-o-W in domestic market over weak trades.

Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at INR 54,000-57,500/MT (ex-Mumbai); INR 56,000-58,000/MT (ex-Hyderabad); INR 53,500-54,000/MT (ex-Delhi) and INR 55,000/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.