Chinese manufacturers have raised the Plate export prices significantly by USD 45/MT,W-o-W basis owing to stronger prices in domestic market. China’s domestic market has become quite volatile and unpredictable from past few weeks causing frequent fluctuations in export prices.
Current export offers of HR plate from China is heard to in the range of USD 490-500/MT,FoB China. Last week the export offers of plates from China are hovering in the range of USD 445-455/MT,FoB basis.
However no major deals are settled yet. Manufacturers are reluctant to accept the offers below the domestic prices. Overseas buyers continue to remain distressed as the Chinese export prices have shooted up remarkably.
Indian Plate prices stable over poor demand
Indian Plate prices remain stable this week owing to poor demand and currency demonetization in domestic market.Market sentiments remain dull as the hike in flat steel prices is not yet accepted by the buyers.
In the midst of liquidity crunch,rise in prices has shaken the traders and secondary manufacturers.Demand continues to remain lull and meanwhile sales volume is declining gradually.
Current offers of commercial grade plates are being heard in the range of INR 35,000-35,500/MT (ex-Mill).Prices exclusive of excise duty 12.5%. Whereas plate prices of ex-Mumbai and Delhi are assessed in the range of INR 40,000-41,000/MT.Prices inclusive of excise duty 12.5%.
According to the sources, in a recent deal 5,000-10,000/MT, was booked from a South Korea plant and was imported at USD 550-560/MT on CFR basis.
However export offers of Plates from India are hovering in the range of USD 470-475/MT,FoB basis.
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