This week domestic PPGI (Pre Painted Galvanized Steel) prices softened further by INR 500/MT on the back of subdued trades and low buying interest among end users in domestic market.
Thus current reference prices in traders market of retail section for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 58,500-61,000/MT (Ex-Mumbai) and INR 58,500-60,500/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST@18%.
However few industry participants shared that,”buying remained decent in PPGI market in May- Jun’19.However with the onset of monsoon season prices started to decline in domestic market”.
A PPGI trader based in Mumbai commented that,“PPGI prices are expected to fall further in local market since domestic HRC & CRC prices continued to remain under pressure.However in the month of May-June PPGI prices remained largely stable over firm demand in domestic market.
Domestic Galvanized Plain Coil prices fell further- This week GP prices witnessed decline since traders are holding higher inventory levels amid low demand and dull sales in domestic market.
On weekly basis, domestic GP prices reduced by INR 500-1000/MT over low buying.
Currently trade reference prices for Galvanized plain coil (0.8 mm, 120 GSM) is at 50,000-51,000/MT (ex-Mumbai),INR 50,000/MT (ex-Delhi),INR 50,500/MT (Ex-Hyderabad) and INR 50,000-51,000/MT (Ex-Chennai).The prices mentioned above are basic and GST extra @18% is applicable.
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