Hike in plate export offers in global market coupled with improved demand from Europe has pushed up Indian plate export offers by USD 15-20/MT W-o-W.
SteelMint has acknowledged from the market sources that Essar Steel – major Indian steelmaker with 10 MnT pa steel making capacity has have raised the plate export offers by USD 15-20/MT,W-o-W basis owing to surge in plate export offers in the global market.
Current plate export offers from India is heard around USD 515-520/MT,FoB India which is equivalent to USD 555-560/MT, CFR Europe.Last week the offers were heard in the range of USD 500-505/MT on FoB basis.
Demand for Indian plate remained optimistic in Europe owing to imposition of anti dumping duties on plates of China.
Also,Chinese plate prices have shoot up in the global market since five consecutive week and has reached to the levels of USD 465-475/MT,FoB basis.This has triggered the Indian exporters to raise the export offers for overseas buyers in foreign market.
Indian plate export volumes rise in Apr-May’17-
According to provisional data released byJoint Plant Committee,Indian plate export volumes during Apr-May’17 is 0.08 MnT against 0.03 MnT in similar time frame of previous year.Major exporting destinations include Spain which accounted for 50% of share followed by Belguim and UAE.
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