The week-02 saw Chinese manufacturers inched up the plate export offers amid gains in the domestic market. After facing down-trend in global flat steel market for three consecutive weeks, China is all set to raise the prices of plates both in global and domestic market.
Current offers for commercial grade plate are hovering in the range of USD 455-465/MT, FoB China. Whereas last week offers are registered in the range of 450-460/MT, FoB basis.
Meanwhile China’s plate prices in domestic market surged by RMB 20/MT and are heard to be in the range of RMB 3,400-3,450/MT which is equivalent to USD 490-498/MT.
Although the hike in domestic plate export offers is due to bullish sentiments prevailing in the domestic market. However buying activity remained thin in the export market and it is anticipated that the export offers will continue to remain volatile in next week of the month also.
As per sources, some mills in China have also booked the orders of 2,19,000 tonne of plate in China’s domestic market on 10th Jan’17, up by 1,40,000 tonne against the previous day.
Export offers from CIS nations remain firm
Export offers of Plate from CIS nations remain consistent this week and are assessed in the range of USD 470-480/MT,FoB Black sea. However manufacturers in Russia remained bearish. Limited trades have been heard in the market due to new year celebrations.
Indian Plate Offers remain stable
Indian plate prices remained stable this week after the recent hike of INR 3000/MT in the first week of Jan’2016.However,Flat steel prices remained steady this week owing to weak demand in the domestic market.
Current offers of commercial grade plate are hovering in the range of INR 39,000-39,500/MT,(ex-mill). Prices are exclusive of Excise Duty of 12.5%.
Whereas plate prices in ex-Mumbai and ex-Delhi are assessed in the range of INR 44,000-44,500/MT. Prices are inclusive of Excise Duty of 12.5%.
Leave a Reply