In domestic market, plate prices have come down marginally in traders market owing to dull demand amid approaching festive holidays.
Prices in major markets remain stable.Reference prices (basic) for plates (5-10 mm, IS 2062) for this week are heard at INR 38,500/ MT (ex-Delhi) and INR 38,000-38,500/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST @ 18%.
Chinese Plate export offers decline over dull buying in domestic market-Chinese plate export have witnessed decline this week by USD 5-10/MT owing to weaker market sentiments in domestic market.
Current export offers are recorded at USD 550-555/MT,FoB China.Last week the same was heard in the range of USD 555-565/MT,FoB basis.
Meanwhile plate prices in China’s domestic market went down by RMB 60-70/MT and are heard in the range of RMB 4,050-4,080/MT, equivalent to USD 615-620/MT including VAT.
Major mills in China are offering in the range of USD 560/MT,FoB basis as the overseas buyers resist buying over higher export offers in the global market.
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