China’s plate prices slipped by USD 20/MT,W-o-W basis as the domestic market showed signs of retreat. Buying activities remained thin as the Chinese market has become quite uncertain and volatile.
Current export offers of commercial grade Plates are hovering in the range of USD 470-480/MT,FoB China. Last week offers are heard to be in the range of USD 480-490/MT,FoB basis.
Plates prices in China’s domestic market are assessed in the range of RMB 3,550-3,580/MT (USD 510-515/MT) including VAT.
Many countries like Taiwan, Malaysia and European countries are imposing 80% anti dumping duty on Chinese Plates. However, overseas buyers have lowered down their trading activities as the Christmas holidays are approaching.
India: Domestic plate offers remain stable
Domestic prices of Plates in India are hovering in the range of INR 35,500-36,000/MT (ex-Mill) excluding excise duty 12.5%. Whereas prices in ex-Mumbai and Delhi are assessed in the range of INR 41,000/MT. Prices inclusive of Excise Duty of 12.5%.
Plate export offers from India are in the range of USD 480-490/MT, FoB India, However, realizations (which is presently around INR 32,500/MT) in exports is comparatively less than current domestic offers. By far, no plate export deals concluded yet.
As far as demand is concerned, it continues to remain lull. Despite this, Indian steel makers are anticipating further price hike in flat products by INR 2,000/MT by last week of Dec’16.
CIS Countries: Plate export offers move up by USD 5/MT W-o-W
Plate offers from CIS-origin moved up by USD 5/MT this week and are heard to be in the range of USD 470-490/MT, FoB Black Sea. Last week plates export offers were hovering in the range of USD 465-470/MT, FoB basis.
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