Indian plate prices remain firm this week amid sluggish demand in the domestic market. Market participants’ highlighted increased inventory over low-off take has further put prices under pressure.
Current offers of commercial grade plate are hovering in the range of INR 38,000-39,000/MT,(ex-mill). Prices are exclusive of Excise Duty of 12.5%.
Whereas plate prices are assessed in the range of INR 42,000-42,500/MT (ex-Mumbai) and INR 42,500-43,000/MT( ex-Delhi). Prices are inclusive of Excise Duty of 12.5%.
With no major changes for steel industry in the Union Budget, domestic flat steel industry awaits announcement on MIP which is due on 04 Feb’17 and provisional Anti Dumping Duty. Traders are anticipating Indian steel makers to roll over plate prices for Feb’17 deliveries.
Global Plate Export Market
Chinese export market remain closed amid on-going week long holidays. Last plate export offers were heard at USD 460-465/MT, FoB. CIS plate export offers heard at USD 480-530/MT, FoB Black Sea.
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