Galvanized plain (GP) coil prices witness downtrend this week by INR 500-1000/MT owing to slowdown of buying activity in traders market.However major manufacturers have kept the prices unchanged for this week.
As per SteelMint assessment,reference prices of GP (120 GSM) 0.8mm for this week are hovering in the range of INR 55,000/MT (ex-Mumbai),INR 52,000/MT (ex-Chennai),INR 51,500/MT(ex-Delhi) and INR 52,500-57,000/MT( ex-Hyderabad).The prices mentioned above are basic excluding GST @ 18%.
After the hike of INR 2000/MT happened last week,domestic sales went down since the traders have already stocked the material and reluctant to purchase at higher prices.Thus increased prices have not yet absorbed in the domestic market.
Chinese HDGI Export Offers Rises over Sustained Demand in Domestic Market
Chinese HDGI export offers moves up sharply by USD 20-25/MT after two weeks of stability owing to sustained demand spread in the domestic market.
Presently Chinese export offers for 1.0 mm,120g HDGI are assessed in the range of USD 665-675/MT,FoB China.However last week the prices remained on similar levels.
Mills like Benxi iron and steel raised their export offers by USD 20/MT and are offering in the range of USD 685-690MT,FoB basis.Fewer bookings have been made for South America and Middle east countries in the range of USD 670-675/MT last week.
Leave a Reply