Chinese Plate Export Offers Rises on Strengthen Domestic Market

Chinese Plate export offers have shown the upward trend on W-o-W basis by a hike of USD 15-20/MT for April shipments. Export offers surges this week in the backdrop of optimistic sentiments spread in the China’s domestic market.

Current Plate export offers are assessed in the range of USD 490-500/MT,FoB China. Last week the offers were heard in the range of USD 485-490/MT,on FoB basis.

Meanwhile prices of plates in domestic market are heard to be in the range of RMB 3,450-3,800/MT which is equivalent to USD 543-551/MT, including VAT taxes.

Although demand for the plates in the export market is showing positive improvement in comparison to other flat products, it is also providing enough room for Chinese mills to raise their plate export offers above USD 500/MT on FoB basis.

Trading activities remains sparse since overseas buyers are biding around USD 490/MT as the prices are considered too high for them. However, as per sources deals have been concluded to South Korea in the range of USD 500/MT,FoB basis

Chinese manufacturers are reluctant to accept the offers below the standard prices. Further cut in export offers is only possible if they have a setback in their sales target for April shipments.

India: Domestic Plate Prices Stable in Major Markets, Marginally Up in Mumbai
This week domestic plate prices remained stable. As the Holi weekend is approaching next week in the domestic market leading to stability of prices in Indian flat steel market.

Current prices of commercial grade plate are hovering in the range of INR 35,000-36,000/MT(ex-mill).Prices are exclusive of Excise duty of 12.5%.

In major markets prices of plates are seen at INR 40,000-40,500/MT(ex-Delhi) and INR 40,750/MT (ex-Mumbai).Prices are inclusive of Excise duty of 12.5%.

However some Mumbai based traders shared that prices have slightly increased and may further increase in the coming days.

Global Plate Export Offers – Week 11

Prices in USD/MT
Source-SteelMint Research