Chinese HDG export offers remained firm this week on account of softening global demand from overseas buyers.Weak buying interest prevails in the Chinese HDG export market.
Currently China’s 1mm HDG export offers are hovering in the range of USD 545-550/MT, FoB China. Last week the same was heard in the range of USD 530-535/MT on FoB basis.
Major mills in China are offering in the range of USD 550-555/MT on FoB basis.Although some deals have been concluded with South East Asian nations and Latin America in the range of USD 540-545/MT,FoB China.
India-Domestic GP Prices Unchanged amid Weak Buying
Domestic GP prices remain unchanged this week amid lean buying activities in the domestic market.Traders and stockiest kept away from maintaining high stocks ahead GST implementation and sluggish demand.
Currently,prices of 0.80 mm GP across other major markets are hovering in the range as follows: Mumbai – INR 53,500-54,000/MT; Delhi – INR 52,500/MT and INR 53,000-54,500MT in Hyderabad. Prices are inclusive of Excise Duty of 12.5%; VAT/CST extra.
”Since the demand has not shown any major shift in the domestic market resulting to decline in GP prices by the end of this month.”quoted by the trader based in Mumbai.
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