According to provisional data released by Joint Plant Committee (Govt. of India) India’s Galvanized plain coil exports decline significantly by 29% to 0.68 MnT so far in this fiscal (Apr-Oct’17) against 0.96 MnT in similar time period of previous year. Major suppliers during Apr-Oct’17 were Belgium, Italy, Ethopia, South Africa, UK and UAE.
Indian HDGI export offers rose sharply-Major Indian steel mills have also raised export offers for HDGI (Hot Dipped Galvanized Iron, SGCC dx 51a) by USD 25/MT on weekly basis.
Currently HDGI export offers stands at USD 750/MT,FoB India against previous week’s assessment of USD 720-725/MT, FoB.
India’s Galvanized plain coil imports increases sharply-Imports of galvanized plain coil and galvanized coated sheets have increased sharply by 108% Y-o-Y. During Apr-Oct’17 India imported 0.64 MnT GP/GC compared to 0.31 MnT in the same time frame last year.
Chinese HDGI export offers rose marginally – Chinese HDGI (1 mm) export offers rose marginally this week as the prices rebound in the domestic market.Currently HDGI 1mm 120 g zinc coated export offers are assessed at USD 648-655/MT,FoB against previous week’s assessment of USD 645-650/MT,FoB China.
However no deals have been concluded with the buyers after replenishing their stocks.And production cut in China will not have much affect in HDGI products however Chinese mills remain optimistic about the prices.
Domestic Galvanized plain coil prices remain unchanged over weak demand- Galvanized plain coil prices remained stable this week owing to bearish sentiments prevailing in the domestic market. Price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at : INR 48-52,000/MT (ex-Mumbai), INR 49,000-49,500/MT (ex-Chennai), INR 49,500/MT (ex-Delhi) and INR 51,000-53,500/MT (ex-Hyderabad).
Leave a Reply