India’s major HR-plate producers are planning to hike plate offers from the first week of Sep’20 by around INR 1,000-1,500/t ($14-20), SteelMint learned from its trade channels. However official confirmation on the same is awaited. Notably, Indian steel mills raised flat steel prices thrice in the month of Aug’20 on tight supply and demand recovery.
However, trade prices of HR-plate in the domestic market witnessed a weekly fall by INR 500/t in the Mumbai market due to monsoons and limited buying.
SteelMint’s price assessment for current week stands at INR 39,250-39,500/t (ex-Mumbai) and INR 40,000-41,000/t (ex-Delhi). The mentioned price does not include 18% GST.
“Consumer demand is on the rise mainly from the infrastructure sector. However, in the last few days, the trade market has shown weakness,” shared major steel manufacturers.
China’s heavy plate export offer stands firm- The heavy plate export offers remain unchanged this week and stood at $500-510/t FoB China basis since, the trades slowed down in both overseas and domestic markets, yet the mills were reluctant to lower their prices.
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