In line with hike in flat products prices, Indian manufacturers have raised plate prices up to 500-1000/MT.Indian flat product prices have increased in anticipation of improved demand in the domestic market.
In major markets prices of plates are seen at INR 41,500 (ex-Delhi) and INR 42,000/MT (ex-Mumbai).Prices are inclusive of Excise duty of 12.5%.
However, no fresh plate export offers from India were heard as they await impact of Debbie cyclone in Australia. Last offers were heard USD 470-480/MT, FoB India.
Chinese Plate export offers Fall on weakening domestic market
China’s plate export offers is facing downstream since last week owing to passive market sentiments happening in the China’s domestic market.Nation’s market sentiments remained bearish due to public holiday on the occasion of Tomb-Sweeping Festival.
Current plate export offers are assessed in the range of USD 465-470/MT, FoB China. Last week the offers were heard in the range of USD 470-480/MT,on FoB basis.
Meanwhile prices of plates in domestic market are heard to be in the range of RMB 3,520-3,540/MT which is equivalent to USD 511-514/MT, including VAT & other taxes.
Plate export offers are also declining on account of dwindling demand coupled with inventory pressures in the Chinese domestic market.Chinese mills are bidding at around USD 470/MT on FoB basis but no such deals have been concluded yet.
However, if paper market strengthen along with improved buying activity can lead to rise in plate export offers in the Chinese domestic market.
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