HR-plate prices dropped further by INR 1,000/t ($13/t) this week as market participants stood on the sidelines awaiting price announcements from mills.
SteelMint’s benchmark HR-plate (IS2062, 5-10mm) prices fell to INR 69,000-70,000/t ($922-935/t) exy-Mumbai, exclusive of GST @ 18%.
China’s heavy plate export offers stood at $810-840/t FOB as against $820-835/t FOB a week back. The widening offers also increased concerns amongst buyers.
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