Lower buying in downstream products lead to softness in color coated and galvanized coil prices domestic market.
This week PPGI (Pre-painted galvanized iron) coil prices decline by upto INR 250-750/MT over significant fall in hot rolled prices along with monotonous demand hovering in downstream products. Buyers are postponing their purchase plans with expectation of further slump in domestic prices.
Currently trades reference prices for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 54,000-59,000/MT (Ex-Mumbai) depending on companies make and INR 55,500-56,500/MT (ex-Delhi). The prices mentioned above are basic and extra GST@18% is applicable.
Also ongoing monsoon season and lower consumer spending kept domestic color coated prices on lower side.
A trader based in Mumbai shared that, “Improvement in buying activities with the arrival of festive season approaching in upcoming months may impact color coated prices in domestic market.”
Domestic Galvanized plain coil prices- Currently trade reference prices for Galvanized plain coil (0.7- 0.8 mm, 120 GSM) is at INR 47,500-48,000/MT (ex-Mumbai), INR 48,000-48,500/MT (ex-Delhi), INR 49,000-49,500/MT (Ex-Hyderabad) and INR 49,000-49,500/MT (Ex-Chennai). The prices mentioned above are basic and GST extra @18% is applicable.
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