MS plate export offers from Chinese suppliers remain unchanged this week to Indian market. With steel prices gaining strength in Chinese market, exporters have become reluctant to offer at lower prices.
Current offers for commercial grade (S250) plate are assessed at USD 330/MT, CFR India. However, some Indian importers claimed to have offers at USD 320-325/MT, CFR for bulk shipments (import duty is 10%).
Offers for high tensile (S355) grade prices are assessed at USD 370-380/MT, CFR India, although buying interest is seen at USD 360/MT levels.
Indonesian Plate Offers still High
Commercial grade MS plate offers from POSCO, Indonesia are assessed at USD 370/MT, CFR India, for which import duty is nil (due to preferential trade agreement with ASEAN countries). However, Indian importers prefer Chinese plate over Indonesian due to low cost.
Indian MS Plate Offers
Indian MS plate offers remain unaltered at INR 28,000-28,500/MT (ex-factory). However, cheaper import from China and Indonesia may force Indian steelmakers to consider some price cut in August.
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