Indian plate prices fallen by INR 500-1,000/MT in trader’s market owing to dull demand coupled with weak buying activities in the domestic market.However manufacturers have kept the plate prices stable in the domestic market. Prices are likely to see some correction in near term or manufactuers may be seen offering rebates/discounts.
Current prices of commercial grade plate are hovering in the range of INR 36,500-37,000/MT(ex-mill). Prices are exclusive of Excise duty of 12.5%.
In major markets prices of plates are seen at INR 41,000/MT (ex-Delhi) and INR 40,000/MT (ex-Mumbai). Prices are inclusive of Excise duty of 12.5%.
Chinese Plate Export Market Stable On Strengthen Domestic Market
Chinese plate export prices remained stable this week after falling for two consecutive week by USD 50/MT.Plate export offers remained unaltered this week owing to positive sentiments prevailing in China’s domestic market.
Current plate export offers are assessed in the range of USD 420-430/MT, FoB China.
Meanwhile prices of plates in domestic market are heard to be in the range of RMB 3,200-3,220/MT which is equivalent to USD 465-468/MT, including VAT & other taxes.
In China,major plate producers are offering plate in the range of USD 430/MT with the rebates of USD 5-10/MT on FoB basis.However,it is anticipated that market sentiments will remain positive for shorter span of time since excess supply of inventories coupled with bleak demand will still remain the major cause of falling global and domestic prices in China.
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