Chinese mills have raised plate export offers by USD 5/MT in the start of this week on limited supply ahead of New year holidays. However market participants are taking limited orders since they are going on officially holidays spanning across 15 Feb to 21 Feb.
Currently plate export offers are heard in the range of USD 570-575/MT,FoB China.Last week the offers are assessed at USD 565-570/MT FoB basis.
Meanwhile plate prices for commercial grade 14-20 mm in China’s domestic prices stood at RMB 4,020 – 4,120/MT,including VAT.
Last week,major mills in China were offering around USD 580-585/MT FoB China.However exporters have withdrawn their offers.
Indian Domestic Plate Prices Remain Supported Despite Lesser Availability
This week domestic plate prices remain firm since the mills are unable to supply adequate material in the domestic market.
Currently trade reference prices for plates (grade IS2062) 5-10 mm are hovering in the range of INR 44,000/MT (ex-Mumbai) and INR 44,500/MT (ex-Delhi).
Few market sources mentioned that owing to higher plate prices traders remained less interested in buying the material and trade activities remained limited.
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