Galvanized plain (GP) coil prices remain stable after the hike of INR 1000-1500/MT a week ago.Prices remain unchanged as demand remained weak and slowdown of buying activities continues to prevail in the domestic market.Traders with the need of immediate material are purchasing the stocks while others have adopted wait and watch approach.
As per SteelMint assessment,reference prices of GP (120 GSM) 0.8mm for this week are hovering in the range of INR 54,000-55,000/MT (ex-Mumbai),INR 49,000-50,000/MT (ex-Chennai),INR 50,000-51,000/MT(ex-Delhi) and INR 50,000-55,000/MT( ex-Hyderabad).The prices mentioned above are basic excluding GST @ 18%.
Market participants mentioned that domestic demand remains slack and prices have increased on higher raw material cost.Despite slow demand, Indian manufactures are planning for further hike in GP by INR 1000-1500/MT in near term.
China- HDGI Export Offers Rise by USD 15/MT over Domestic Gains
Chinese HDGI export offers have hit levels of USD 650/MT, FoB by raising the offers once again by USD 15/MT,W-o-W basis supported by higher prices in domestic market.
Presently Chinese export offers for 1.0 mm,120g HDGI are assessed in the range of USD 650-655/MT,FoB China.However last week the prices was in range of USD 635-640/MT on FoB basis.
Major mills are offering in the range of USD 660/MT,FoB basis.However some deals have been concluded with South Korea in range of USD 655/MT,FoB basis.
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