Indian GP/GC prices Fall Following Drop in HRC Prices

Domestic GP/GC prices which were stable since past few weeks have registered a fall of INR 500/MT this week in traders market.

However, this fall is less as compared to drop in HR/CR prices which fell by INR 1,000-1,200/MT this week.

Current offers for HDG (Hot dip galvanized) coil (0.8mm and above, IS 277) are assessed at INR 44,000/MT (ex-Delhi). Price include excise of 12.5%.

India’s GP/GC imports for two months of FY17 (Apr-May) stands at 0.07 MnT against 0.08 MnT in corresponding period of previous year. Whereas, country’s exports stands at 0.20 MnT for FY 17 (Apr-May), down by 23% against previous year.

Majority of India’s GP/GC exports in Apr-May’16 are directed towards Ethopia, followed by UAE and Belgium.

India’s GP/GC consumption in first two months of current financial year has increased by 4.08% against corresponding period of previous year.

Global Offers

HDG (hot dip galvanized) offers from China are assessed at USD 435-440/MT, FoB basis. Chinese HRC offers to UAE are assessed at USD 540-550/MT, CFR UAE. Whereas, India offered the same at USD 550/MT, CFR UAE and Korean offers are heard at USD 510/MT, CFR basis.

Brazilian offers to US are heard at USD 770-775/MT, FoB basis for Aug-Sep shipments.

GP/GC Prices as on 1 Jul’16

*Prices include excise of 12.5%