Chinese suppliers have kept commercial quality (S235 equivalent to A36) offers unchanged to Indian market. Current prices for November shipments are assessed at USD 295/MT, CFR India and high tensile (S355) plate at USD 320-330/MT, CFR India. Fewer trade volumes were reported at these levels.
No fresh offers from POSCO-Indonesia were reported. Last offers were assessed at around USD 330/MT, CFR India.
It is to be noted that import from China attracts a duty of 12.5%. Whereas, there is no duty on import from Indonesia due to bi-lateral trade agreement signed with ASEAN countries.
In Indian market, primary plate producers have kept their offers firm at INR 27,500-28,500/MT (ex-works, excluding excise duty of 12.5%). Whereas, secondary mills were heard to offer the same grade at around INR 25,500/MT (ex-works, excluding excise duty).
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