- Global plate export offers dip in Feb m-o-m
- Mills expected to hike prices for next month
Monthly average prices of hot-rolled (HR) plates (IS2062, Gr E250 Br, 20-40 mm) increased by INR 500/t to INR 52,400/t in February 2025 from INR 51,900/t in January 2025.
During the week, as per BigMint’s weekly assessment, HR plate (IS2062, Gr E250 Br, 20-40 mm) tags remained stable w-o-w at INR 51,000-54,000/t exy-Mumbai on 27 February 2025. Also, prices of hot strip mill (HSM) plates (IS2062, Gr E250 Br, 5-10 mm) remained stable w-o-w at INR 48,500-49,500 /t exy-Mumbai. Prices exclude the 18% GST.
Market overview
Trade market witnesses limited demand: The trade market experienced a price increase at the beginning of the week,. However, prices stabilised as the month progressed, with subdued demand leading buyers to focus solely on base-level procurement.
“Traditionally, the last quarter sees good demand. But, at present, that is not the case. We still hope there will be some demand recovery ahead of Holi. Also, the market is abuzz with anticipation of price hike by mills along with no price support for the month,” said a market participant.
Global plate export offers dip in Feb: The monthly average Chinese heavy plate (SS400) export offers stood at $486/t FOB China for February, down by $4/t from $490/t FOB in January.
Outlook
Market expectations suggest a potential increase in buyer activity during the final month of the fiscal, driven by the need to utilise annual budgets. Conversely, distributors are expected to maintain lean inventories as the fiscal year-end approaches. Consequently, prices are projected to remain range-bound.
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