Trading activities in imported and domestic plates have remained thin owing to sluggish demand, resistance in Chinese mills’ prices and anticipation of safeguard duty imposition.
After downfall in plate prices, especially during last 2-3 months, some stability is observed in China’s plate market.
Current offers for commercial quality (S235 equivalent to A36) from China are assessed at USD 270-280/MT, CNF India. Offers have been unchanged since SteelMint’s last three weeks assessment.
Due to sluggish demand across the globe, transactions have been sparse since last few weeks. Also, Chinese steel mills have become reluctant to lower down their offers further amid huge losses.
Moreover POSCO-Indonesia has also kept its offers unaltered at USD 310/MT, CNF India.
Domestic prices
With strong prospects of safeguard duty on plate imports in December, Indian buyers have restricted their import purchases. Following this, domestic plate prices have also become stable.
Current offers for plate of base size 16-20 mm are assessed in the range of INR 25,500-26,000/MT (ex-works; excluding 12.5% excise). While, secondary manufacturers are offering plates in the range of INR 23,000-23,500/MT (ex-Mumbai).
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