Chinese plate export offers inched up this week by USD 15-20/MT as the positive sentiments spread in the domestic market.Strengthening domestic market along with rise in plate production cost has pushed Chinese mills to raise the plate export offers along with domestic prices.
Current plate export offers are assessed in the range of USD 445-450/MT, FoB China.
Meanwhile prices of plates in domestic market are heard to be in the range of RMB 3,400-3,380/MT which is equivalent to USD 491-494/MT, including VAT & other taxes.
Major plate producers in China are trading in the range of USD 450-460/MT on FoB basis.Overseas buyers also looks keen in buying activities as the export prices may further rise in global market.
Indian SteelMakers Hold Plate Export Offers-
Indian exporters have hold the plate export offers since Chinese plate prices continues to remain competitive resulting to lesser inquiries from overseas buyers.
Plate export offers are heard in the range of USD 490-495/MT, FoB India which is equivalent to USD 540/MT CFR Europe.
Besides this SAIL RSP (Rourkela Steel Plant) having the installed capacity of 4.3 MnT and accounts for 1.0 MnT to plate production has suffered a setback following a breakdown on 20 May’17 and as per reports it may take atleast 10 days to stabilise operations fully.
Production cut may lead to demand -supply mismatch and rise in plate prices.However,dull and weak demand continues to weigh plate prices in the domestic market.
Domestic plate prices also remain static over dull and sluggish demand and are heard in the range of INR 38,500-39,000/MT (ex-Delhi) and INR 38,500-39,000/MT (ex-Mumbai). Prices are inclusive of Excise duty of 12.5%,VAT/CST extra.
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