Indian plate prices remained steady this weak. Lesser buying inquiries coupled with weaker demand has lead to stability in domestic plate prices.
Current prices of commercial grade plate are hovering in the range of INR 37,000-37,500/MT(ex-mill). Prices are exclusive of Excise duty of 12.5%.
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,plate export offers from India were heard in the range of USD 495-515/MT, FoB India.
Chinese Plate Export Offers Decline Sharply Over Dull Demand
Chinese Plate prices have witnessed the steep fall of USD 15/MT W-o-W in plate export offers due to bearish sentiments spread in China’s domestic market..Plate export offers are shrinking in order to secure orders for June shipments since the overseas buyers have become inactive in the global market.
Current plate export offers are assessed in the range of USD 450-455/MT, FoB China. Last week the offers were heard in the range of USD 465-470/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.
Market participants mentioned that Chinese manufacturers are ready to provide rebate of USD 5/MT on Fob basis and the situation has become so worse that they are forced to cut the prices W-o-W in the global market.
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