Galvanized plain (GP) coil price has increased by INR 1000-2000/MT in first week of Sep’17 on higher production cost and upside trend in global market.
As per SteelMint assessment,reference prices of GP (120 GSM) 0.8mm for this week are hovering in the range of INR 55,500-55,700/MT (ex-Mumbai),INR 52,000/MT (ex-Chennai),INR 51,500-52,000/MT(ex-Delhi) and INR 56,500-57,000/MT( ex-Hyderabad).The prices mentioned above are basic excluding GST @ 18%.
Market participants shared that domestic demand remains sluggish and increased prices may be difficult to absorb in the domestic market.
Indian HDGI (SGCC dx 51a) exporters are currently holding the export offers and last offers are heard in the range of USD 740/MT on FoB basis.
China- HDGI Export Offers Remain Unaltered as Buying Activity Weakens
Chinese HDGI export offers remained stable as higher export offers has resulted in less inquiries from overseas buyers.
Presently Chinese export offers for 1.0 mm,120g HDGI are assessed in the range of USD 645-650/MT,FoB China.However last week the prices remained on similar levels.
Few mills like Benxi iron and steel raised their export offers by USD 10/MT and are offering in the range of USD 670/MT,FoB basis.However no deals have been settled on these prices.
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