This week Indian PPGI prices witnessed correction of INR 500-1000/MT in domestic market amid end of peak season.Also arrival of monsoon season has affected demand of PPGI prices.
Currently,trade reference prices of PPGI (0.5mm, 90 GSM) is around INR 63,500-64,500/MT (ex-Mumbai) and INR 64,000-65,000/MT (ex-Delhi). The prices mentioned above are basic prices excluding GST@18%.
However other major manufacturers continue to offer PPGI (0.5mm, 90 GSM) at INR 64,750-64,500/MT (ex-Mumbai).Also JSW prices remain on premium levels which stood at INR 72,500/MT (ex-Mumbai).
Market participant commented that,”PPGI prices witness correction amid slow demand in domestic market.Initially increase in prices made in beginning of the month were absorbed however by the end of the month prices started witnessing decline in retail market”.
In the beginning of the month Indian major manufacturers have raised PPGI prices by INR 1000/MT in domestic market.
Domestic GP Prices moved down marginally- Domestic GP prices moved down marginally by upto INR 500/MT in few regions over inactive buying.
Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at INR 55,500-57,000/MT (ex-Mumbai) and INR 57,500-58,000/MT (ex-Hyderabad) and INR 56,300/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST@18%.
Leave a Reply