Chinese plate export offers witness the marginal hike in sixth week of increase by USD 5-10/MT W-o-W basis on rising plate prices in the domestic market.The growth in plate export offers is fueled by increase in domestic plate prices in China.
Current plate export offers are assessed in the range of USD 480-485/MT, FoB China.Last week the prices was in the range of USD 470-480/MT,FoB basis. On monthly premises, Chinese plate export offers have increased by USD 25-30/MT.
Major mills are quoting plate export offers are in the range of USD 490/MT,FoB basis.
Meanwhile domestic prices of plate remain unchanged this week and are assessed in the range of RMB 3,600-3,620/MT which is equivalent to USD 533-536/MT including VAT.
Major Indian Steel Players Plan for Another Price Hike in Aug’17-
Indian steel biggies is all set to announce another hike in plate prices by INR 500-1000/MT for the month of Aug, owing to improved buying in the domestic market.This is the second hike in plate prices after GST regime came into existence.
In major markets, reference prices (basic) for plates (5-10 mm, IS 2062) are hovering in the range of INR 35,500/MT (ex-Delhi) and INR 35,500-35,700/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST @ 18%.
Moreover Indian steel manufacturers are hoping that rise in prices will get absorbed in the domestic market since further rise in plate prices is due to anticipation of positive demand in near term.
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