As manufacturers continue to battle with the slowdown in domestic demand of Plates, in effect, its prices have remained more or less unaltered. It is learned from market sources that there has been minor hikes by JSPL, whereas other manufacturers are reluctant for any price correction owing to import fear.
MS Plate of thickness 5-10 mm is currently trading at INR 43,000-43,500/MT across major trading regions in India. As per trade sources, Plate demand in Mumbai has been low and prices are holding on to level of INR 43,000/MT.
Market sources speculate that the quantum of JSPL price hike could be anything in the range of 2-3%. Currently, JSPL offers 5-10 mm Plates at around INR 43,000-43,300/MT. Similarly, prices for 11-20 mm are in the range of INR 43,500-44,100/MT, whereas for plates of thickness 21-40 mm are hovering at around INR 43,800-44,100/MT.
The demand for Plate has emerged only from project activities enabling domestic manufacturers to sell off their inventories. There has been a rising concern among traders & dealers that the price hike at a time when the demand is at all time low, may trigger imports.
One of officials of the company said, “We have a strong order book to execute at present and are seeing an improving demand from our customers. Moreover, we believe that domestic demand in Chinese & Korean markets have seen a revival which may limit the possibility of cheaper imports of plates in India.”
One of the Plate dealers based in Mumbai said, “Currently, MS Plate prices are trading in the range of INR 43,000-43,500/MT and import is low except for project requirements. We haven’t seen any price change from other domestic manufacturers. Hence, it is difficult to confirm this price hike by JSPL as of now.”
*Note: All prices mentioned above are inclusive of excise duty & taxes extra.
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