Chinese plate export offers have again increased by USD 20/MT,W-o-W basis in the wake of higher domestic prices and strong demand in the domestic market.This results to rise in plate export offers in the global market.
Current plate export offers are assessed in the range of USD 510-520/MT, FoB China.Last week the prices were in the range of USD 480-485/MT,FoB basis. Chinese plate export offers have recorded the growth of USD 75-80/MT in past eight weeks over strong domestic market.
Meanwhile domestic prices of plate of this week are assessed in the range of RMB 3,940-3,960/MT which is equivalent to USD 587-590/MT including VAT.
Major mills are quoting plate export offers in the range of USD 535 /MT,FoB basis.However higher export offers resist the overseas buyers to book the material for September shipments.
Indian Steelmakers plans for Another prices hike by INR 1000-1500/MT
After the recent hike in domestic plate prices by INR 1500-2000/MT in first week of Aug’17.Major Indian manufactures are all set to further increase the plate prices by INR 1000-1500/MT in near term.
However reference prices (basic) for plates (5-10 mm, IS 2062) remained unchanged for this week and are heard at INR 36,500/MT (ex-Delhi) and INR 36,500-37,000/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST @ 18%.
Improved buying inquiries coupled with higher production cost has pushed the Indian steelmakers to raise the plate prices in domestic market.
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