Galvanized plain (GP) coil prices anticipated to hike further by USD 1000-1500/MT in near term.However domestic GP prices remained stable this week.
Market participants highlighted that major Indian steel mills are anticipating the hike in GP prices in coming days on account of improved demand and constant increase in international steel prices.
As per SteelMint assessment,reference prices of GP (120 GSM) 0.8mm for this week are hovering in the range of INR 55,000/MT (ex-Mumbai),INR 49,000/MT (ex-Chennai),INR 49,500/MT(ex-Delhi) and INR 50,000-55,000/MT( ex-Hyderabad).The prices mentioned above are basic excluding GST @ 18%.
Indian HDGI export offers climb USD 90/MT M-o-M –
Indian HDGI (SGCC dx51a) export offers have moved upto USD 90/MT, M-o-M basis and are hovering in the range of USD 730-750/MT FoB basis.Export offers are in rise over boost in HDGI export offers from China
Chinese HDGI export offers up despite thin trading
Chinese mills have again raised the HDGI export offers by USD 15/MT W-o-W basis as the domestic market is backed by constant jump in prices.
Presently Chinese export offers for 1.0 mm,120g HDGI are assessed in the range of USD 615-625/MT,FoB China.However last week the prices was in range of USD 600-610/MT on FoB basis.
Some deals in small volumes have been settled in range pf USD 615/MT FoB basis and sellers are ready to negotiate the export offers by USD 20/MT.
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