Chinese manufacturers have kept their plate export offers firm this week owing to new year holidays in China. Post holidays, it is anticipated by the manufacturers that prices may go up.
China’s plate export offers for commercial grade plate are up by USD 5 -10/MT and are hovering in the range of USD 465-470/MT, FoB China. Whereas last week offers were registered in the range of 455-465/MT, FoB basis.
Meanwhile, plate prices for commercial grade plate in China’s domestic market are assessed in the range of RMB 3,450-3,470/MT equivalent to USD 502-505/MT.
Trading activity remains limited this week as the exporters are forecasting that prices in the domestic market may increase after the new year holidays. Hence they have adopted wait and watch approach. Some exporters have even stopped placing orders amid fluctuation in prices.
However other market participants are skeptical in forecasting prices post holidays owing to supply and demand factors. Besides this, other factors like high crude steel production, larger sales volume and capacity cuts are also the influential factors.
Indian Plate prices remain stable-
Indian manufacturers have opened the plates market this week with the stable prices. Plate prices remained stable this week owing to weak and slack demand spread in the market. It is to be noted that last week plate offers declined in traders market by INR 500-1,000/MT W-o-W.
CIS Plate export offers unaltered –
CIS-origin Plate export offers also remain static this week and are hovering in the range of USD 480-530/MT, FoB Black Sea.
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