This week Indian color coated / PPGI prices remained mostly stable with slight changes in major markets. Improved consumer spending and active trades kept color coated prices supported in the domestic market.
Thus, trade reference prices for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 52,500-53,000/MT (Ex-Mumbai) and INR 54,000-54,500MT (ex-Delhi).The prices mentioned above are basic, and extra GST@18% is applicable.
Trade sources shared, “Indian steel mills are likely to increase GP and color coated prices in Jan’20 as the demand started to improve in the domestic market.
Meanwhile few traders have started to restock the material before the price increases in the domestic market.
Domestic GP prices also remain stable on weekly basis.Thus, currently, trade reference prices for Galvanized plain coil (0.7- 0.8 mm, 120 GSM) is at INR 43,500-44,000/MT (ex-Mumbai) and INR 45,000-45,500/MT (ex-Delhi) The prices mentioned above are basic, and GST extra @18% is applicable.
Further increase in prices may not match with the growth in demand in the near term as lower consumer spending continues to prevail in domestic market. Also absence of investment in construction sector and limited progress in auto sector fuel uncertainty regarding price acceptance in the domestic market.
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