Indian mills have once again increased the plate prices in the domestic market by INR 1000/MT.Higher production cost and bullish market sentiments have resulted to surge in domestic plate prices.
However reference prices (basic) for plates (5-10 mm, IS 2062) remained unchanged for this week and are heard at INR 38,000-38,500/ MT (ex-Delhi) and INR 38,000/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST @ 18%.
China-Plate export offers rose sharply by USD 20/MT
Chinese plate export offers continues to remain on upward trend this week and have increased by USD 20/MT W-o-W basis despite softening of demand in domestic market.
Current plate export offers are assessed in the range of USD 525-528/MT, FoB China.Last week the prices were in the range of USD 510-520/MT,FoB basis. Chinese plate export offers have climbed by USD 85/MT in last three months.
Major mills are quoting plate export offers in the range of USD 530 /MT,FoB basis.
Meanwhile domestic prices of plate of this week were assessed yesterday in the range of RMB 3,860-3,880/MT which is equivalent to USD 578-581/MT including VAT.
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