Global Plate Offers Up, India’s Domestic Prices Stable

While plates export offers from China and CIS countries are moving up amid recovery in global flat product prices, Indian domestic market is stable during Holi week.

Following recovery in China’s HRC/CRC export prices, plates offers from China have also surged this week. Currently commercial grade plates are being assessed at USD 335-350/MT, FoB China basis.

As per market sources, no trades are being carried out at these rates. Market players are still waiting for some clarity in the market. Few participants believe that prices may fall down after some days of gains whereas some are of an opinion that as it is peak season in China for steel demand, prices may move up further.

In case of CIS-origin plates, S235 grade plates are being offered at USD 330-355/MT, FoB Black Sea. In Russia, both domestic and export plates prices are moving up in anticipation that prices may be pushed up in the coming days, given the upward trend in HRC and CRC prices.

In India, domestic prices for base size 16-20 mm plates are being assessed at INR 28,500 (ex-works basis). The prices here are stable ahead of Holi festival.

While prices in India’s domestic flat steel market have recovered post MIP, Indian manufacturers have held their export offers given better sales realizations in the domestic market.

Last export offer for CRC from India was heard at USD 360/MT, FoB India, however, no trades were heard to be carried out at this rate.

Plates Price Summary

CPT: Carriage Paid To
Source: SteelMint Research