Imported plate offers from Korea, Indonesia and China have remained unchanged over last week amid bearish market sentiment.
Current offers for commercial quality (S235 equivalent to A36) from China are being assessed at USD 290/MT. POSCO-Indonesia is offering base size 16-20 mm commercial quality plate at USD 310/MT. All prices are on CNF India basis.
However there is no major buying interest for imported plates in Indian market after the news of possible safeguard duty on plates started doing rounds in Indian market.
SteelMint recently reported that integrated steel manufacturers of India have recently filed petition with DG Safeguards for imposition of safeguard duty even on plates.
It is to be noted that imports from Indonesia do not attract any duty owing to recent preferential trade agreement signed by Indian government with ASEAN countries. However Chinese imports attracts a duty of 12.5%.
Domestic offers
There has been no price cut announced on plates by primary manufacturers in the start of November. However secondary producers have cut their offers by INR1,000/MT.
Current offers for base size 10-20 mm (grade: IS2062) from primary producers is being assessed in the range of INR 26,500-27,000/MT (Ex-works excluding excise of 12.5%). Offers from secondary manufacturers are heard at INR 24,000/MT (Ex-works excluding excise).
10-20 mm size plates are being offered at INR 28,500-29,500/MT (ex-Delhi and Mumbai). Prices exclude excise of 12.5%.
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