Indian plate prices stable; traders expect discounts next month.
Indian plate market remained quiet due to limited buying interest amid coming monsoons next month. Current offers for 5-10 mm plate are assessed at INR 29,000-30,000/MT on ex-plant basis (excluding excise and taxes).
Market participants are expecting some discount next month from primary manufacturers. Imported plate offers have firmed up this week, with POSCO-Indonesia has raised offers to USD 410/MT, CIF India for July shipments, which was last heard at USD 405/MT, CIF India. Chinese offers for commercial quality (A36) are assessed at around USD 380/MT, CIF India and high tensile at USD 430-440/MT (S355) CIF. However, Indian importers are neglecting Chinese material owing to strict BIS norms.
Plate import to India noticed a significant growth in FY15. Total import stood at 732,000 MT in FY15 against 410,000 MT in FY14. POSCO-Indonesia is active in Indian market, after Indian government waived off import duty on steel products from ASEAN countries under Preferential Trade Agreement (PTA) wef 1 Jan’15.
MS Slabs Export from India in May’15
| Shipment Date | Quantity | Unit | Unit Price | Foreign Country | Indian Port | Shipment Mode |
| 5 Sep’15 | 4,847 | MTS | 347 | Myanmar | Vishakhapatnam | Sea |
| 5 Sep’15 | 4,950 | MTS | 327 | Myanmar | Vishakhapatnam | Sea |
| 5 May’15 | 4,874 | MTS | 354 | Myanmar | Vishakhapatnam | Sea |
| 5 May’15 | 4,974 | MTS | 335 | Myanmar | Vishakhapatnam | Sea |
| Total | 19,645 | MTS |
Unit price in USD
Source: Customs data
According to Indian customs data, 19,645 MT slab export has been recorded in the month of May (1-16 May’15).
MS Plate Prices as on 28 May’15
| Particular | Size, Grade | Delivery | Price |
| MS Plates | 5-10 mm, IS2062 | Ex-plant,India | INR 29,000-30,000/MT |
| MS Plates (Indonesia) | >5 mm, A36 | CIF India | USD 410/MT |
| MS Plates (China) | >5 mm, A36 | CIF India | USD 380/MT |
Source: SteelMint Research
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