According to provisional data released by Joint Plant Committee (govt. of India) GP/GC exports from country reported marginal increase from 0.11 MnT in Apr’17 to 0.23 MnT in May’17.
During Apr-May’17 India has exported 0.23 MnT GP/GC compared with 0.22 MnT in same period last fiscal. Major destinations for India’s GP/GC exports in Apr-May’17 remained Belgium, Italy, Spain, USA and UAE.
Indian HDGI export offers moved up by USD 10/MT W-o-W and are currently assessed in the range of USD 650-660/MT FoB India.
Domestic GP prices in India remain stable – Indian GP prices remain stable since the Indian manufacturers have hold the GP offers and are waiting for the GST announcement which will give more clarity about GP prices in the domestic market.
Currently,prices of 0.80 mm 120 GSM 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.
Chinese HDGI Export Offers Rises Swiftly Over Domestic Gains-
Chinese mills are increasing the HDG export offers swiftly by USD10/MT on weekly basis over gains in the domestic market.Moreover they are under no pressure to secure orders for August deliveries.
Currently China’s 1mm HDG export offers are hovering in the range of USD 550-560/MT, FoB China. Last week the same was heard in the range of USD 545-550/MT on FoB basis.
Major mills in China are offering in the range of USD 580/MT on FoB basis which may affect the buying activity among the overseas buyers.Although some deals have been concluded with Middle East,South America and Latin America.
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