Indian plate prices remained firm this week in manufacturer’s market. However in traders market, prices slumped by INR 500-1,000/MT W-o-W owing to weak demand in the domestic market. Market participants shared that rise in prices is not yet absorbed in the market.
Current offers of commercial grade plate are hovering in the range of INR 38,000-38,500/MT,(ex-mill). Prices are exclusive of Excise Duty of 12.5%.
Whereas plate prices in ex-Mumbai and ex-Delhi are assessed in the range of INR 44,000-44,500/MT. Prices are inclusive of Excise Duty of 12.5%.
China’s plate export offers up USD 5-10/MT W-o-W
China’s plate export offers have hiked for the second consecutive week owing to boost in the domestic market. Surge in domestic plate prices amid weak demand led to hike in plate export offers from China.
Current offers for commercial grade plate are hovering in the range of USD 455-465/MT, FoB China. Whereas last week offers were registered in the range of 450-460/MT, FoB basis.
Meanwhile China’s plate prices in domestic market surged by RMB 20-50/MT and are heard to be in the range of RMB 3,450-3,470/MT which is equivalent to USD 500-503/MT. (Prices inclusive of VAT).
Although trading activities remain weak and fewer buying activity is noticed in the market, so no major deals concluded yet.
However offers from South east Asian countries are hovering in the range of USD 450-455/MT, FoB basis. Hence, these offers are considered to be less by the Chinese manufacturers as they are reluctant to sell below the standard prices.
The Chinese manufacturers remained distressed to accept the plate export order for March shipment as the slack demand continues to prevail in the domestic market.
CIS Plate Export offers increase sharply
CIS-Origin plate export offers have rose significantly by USD 50-57/MT and are assessed in the range of USD 527-532/MT,FoB Black Sea. Last week the offers were in the range of USD 470-480/MT,FoB basis.
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