Chinese plate export offers fall further this week by USD 10-15/MT owing to sluggish demand spread in the China’s domestic market.Plate export offers have been slashed at the faster rate as the prices witnessed the dive in the domestic market.
Current plate export offers are assessed in the range of USD 470-480/MT, FoB China. Last week the offers were heard in the range of USD 485-490/MT,on FoB basis.
Meanwhile prices of plates in domestic market are heard to be in the range of RMB 3,600-3,640/MT which is equivalent to USD 524-530/MT, including VAT & other taxes.
Market participants mentioned that Chinese manufacturers are agree to accept the lower bids around USD 470-478/MT on FoB basis.Although, some mills have suspend the export offers and are focusing more on the domestic market as they are anticipating further fall in plate export prices.
Indian Manufacturers Raise Domestic Plate Prices by INR 500-1,000/MT
In line with hike in HRC prices, Indian manufacturers have raised plate prices by INR 500-1,000/MT.
Current prices of commercial grade plate are hovering in the range of INR 36,000-36,500/MT(ex-mill). Prices are exclusive of Excise duty of 12.5%.
In major markets prices of plates are seen at INR 40,200-40,500/MT(ex-Delhi) and INR 41,000/MT (ex-Mumbai).Prices are inclusive of Excise duty of 12.5%.
However, plate export offers from India are hovering in the range of USD 495-500/MT, FoB India.
CIS-Countries Plate export offers remain Stable
CIS-origin plate export offers remain stable this week and are hovering in the range of USD 524-525/MT,FoB.Since the manufacturers have kept their offers stable owing to softening of demand in the Chinese market.
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