Positive market sentiments along with strong demand has motivated the Chinese mills to raise the HDGI export offers by USD 10/MT,W-o-W basis. Since last five weeks Chinese HDGI has recorded the growth of USD 55/MT in global market.
Currently China’s 1mm HDGI export offers are hovering in the range of USD 595-605/MT, FoB China. Last week the same was heard in the range of USD 585-595/MT on FoB basis.
Major mills are offering HDGI in the range of USD 605-620/MT.However Chinese mills will be reluctant to sell the material to overseas buyers below USD 605/MT on FoB basis.
India-GP Prices Witness Hike by INR 500-1000/MT for Aug’17 bookings
Indian GP prices have increased by INR 500-1000/MT for Aug’17 bookings in the backdrop of increased buying inquiries in the domestic market. Traders are busy purchasing fresh stocks, post GST regime which has resulted to increased demand of GP in the domestic market.
As per SteelMint assessment,reference prices of GP (120 GSM) 0.8mm for this week remain unchanged and are hovering in the range of INR 50,000-50,600/MT (ex-Mumbai),INR 46,000-49,000/MT (ex-Chennai). The prices mentioned above are basic excluding GST @ 18%.
Leave a Reply