According to customs data maintained with SteelMint, exports of Galvanized coated flat products from India increased by 5% M-o-M from 152,371 MT in Oct’16 to 160,307 MT in Nov’16.
So far in this fiscal (i.e. till Nov’16) GP/GC exports from India amounted to 1.37 MnT.
India is a net exporter of GP/GC. India’s majority of GP/GC exports are directed towards Middle-east followed by US and South African countries.
Present market scenario of PPGI – As per market sources report to SteelMint, demand in India’s domestic GP/GC market is dull in line with that of other flat products. Most of the Indian steel makers are exploring export options to compensate for the domestic market.
Hike in China’s domestic steel prices has pulled up China’s steel export offers. However market participants are anticipating that this momentum may not last too long considering approaching holidays, winter season and capacity cuts which will lessen the trade activities in China.
Currently, export prices of 0.5 mm PPGI (pre-painted galvanized iron) from India are heard to be in the range of USD 770-780/MT, FoB India.
Note: In India’s GP/GC export analysis, HS codes taken into consideration are 7210 & 7212.
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