Chinese export offers for Galvanised plain coil (GP) have remained stable this week owing to stability in sentiments prevailing in China’s domestic market. China’s HDG (Hot dipped Galvanised iron, 1 mm) export offers for Mar/Apr shipments have remained unaltered on weekly premises and are heard in the range of USD 635-645/MT, FoB China.
Domestic hot dipped galvanised coil prices in eastern China remained unchanged this week at RMB 5,070-5,100/MT (ex-works).
India: Domestic GP/GC Prices Remain Stable Over Slack Demand
The galvanized plain coils / sheets market remain static this week owing to slack demand in the market.Hence manufacturers and traders have roll over the prices due to lower sales volume coupled with weaker market sentiments prevailing in the domestic market.
Currently GP/GC (0.8mm,120GSM) are heard to be in the range of INR 42,000-43,000/MT(ex-Mill).Prices exclusive of excise duty 12.5%.
However prices of GP/GC across other major markets are hovering in the range as follows: Hyderabad – INR 51-52,000/MT; Mumbai – INR 50,000-51,000/MT; Delhi – INR 52,500/MT and INR 51-52,000/MT in Chennai. Prices are inclusive of Excise Duty of 12.5%.
Market participants mentioned that prices in the domestic market will remain stable this week.However, subdued demand in the domestic market is putting pressure on GP/GC prices.
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