The galvanised plain coils / sheets are value – added steel products which basically involves zinc coating to make them tough, light weight, bright and corrosion resistant.
Prices of Galvanised plain coils (GP) in India’s domestic market remained stable this week. However buying interest continues to remain weak. Market participants are expecting further price decline in the domestic prices in the coming term.
Ex-mill prices for GP coils (0.8 mm, 120 GSM) are heard at INR 42,000-43,000/MT. And GP prices across other major markets are as follows: Hyderabad – INR 51-52,000/MT; Mumbai – INR 51,000/MT; Delhi – INR 53,000/MT and INR 53-54,000/MT in Chennai. Prices are inclusive of Excise Duty of 12.5%.
India’s GP/GC exports climb 21% Y-o-Y – During Apr’16-Jan’17,India exported 1.43 MnT GP/GC. The figure is higher by 21% Y-o-Y as in the same period last year, India’s GP/GC exports stood at 1.18 MnT.
GP/GC imports to India during Apr’16-Jan’17 stood at 0.46 MnT.
Chinese GP/GC export offers move up – Chinese flat steel export offers have gained momentum this week amid strengthening prices in China’s domestic market. China’s HDG (Hot dipped Galvanised iron, 1 mm) export offers for Mar/Apr shipments have increased by USD 10/MT, W-o-W and are heard in the range of USD 640-650/MT, FoB.
Export offers for Chinese galvanized coil (1 mm) has also moved up this week. Current offers are assesed at USD 635-645/MT, FoB.
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