Chinese HDGI export offers have retreated by USD 5/MT for the first time in 15 weeks since overseas buyers resist buying on higher export offers.
Presently Chinese export offers for 1.0 mm,120g HDGI are assessed in the range of USD 645-650/MT,FoB China.However last week the prices was in range of USD 650-655/MT on FoB basis.
Major mills are offering in the range of USD 660/MT,FoB basis.However some buyers seems uninterested in making any further on softening global demand.
India: Domestic GP prices Anticipated to Rise by INR 1000-1500/MT
Galvanized plain (GP) coil prices are anticipated to increase by INR 1000-1500/MT on rising production cost .However slowdown of buying activities continues to prevail in the domestic market.
As per SteelMint assessment,reference prices of GP (120 GSM) 0.8mm for this week are hovering in the range of INR 54,000-55,000/MT (ex-Mumbai),INR 49,000-50,000/MT (ex-Chennai),INR 50,000-51,000/MT(ex-Delhi) and INR 50,000-55,000/MT( ex-Hyderabad).The prices mentioned above are basic excluding GST @ 18%.
Indian HDGI (SGCC dx51a) export offers are hovering in the range of USD 740/MT FoB basis.Export offers are in rise over boost in HDGI export offers from China.
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