Galvanised Plain Coil (GP) prices remained stable this week amid optimistic demand prevailing in the domestic market. Since GP has wide number of application and it is majorly used in air conditioners, automobiles,construction,roofing and ducting. Thus seasonal demand has supported GP prices in domestic market.
Domestic GP prices in India have witnessed drop this week amid less trades. Prices of 0.80 mm GP across other major markets are hovering in the range as follows: Mumbai – INR 55,000-55,500/MT; Delhi – INR 53,500/MT and INR 54,500/MT in Chennai. In Hyderabad GP offers are hovering in the range of INR 56,000-57,500/MT. Prices are inclusive of Excise Duty of 12.5%; VAT/CST extra.
China-HDG Prices Slashed Further by USD 5-10/MT
Chinese manufacturers have further dropped the HDG prices owing to bearish sentiments spread in the domestic market.Weaker market sentiments coupled with dull buying activities has compelled the Chinese manufactures to cut the HDG prices.
China’s 1mm HDG export offers are hovering in the range of USD 520-530/MT, FoB China. Last week the same was heard in the range of USD 530-540/MT on FoB basis.
Some major mills are also offering at USD 550/MT, FoB. However some deals have concluded with South East Asia in the range of USD 515-520/MT, FoB.Although due to protective measures Chinese mills find difficult to export HDG to South Korea which is the major destination for HDG products.
Moreover market participants mentioned that Chinese HDG export offers may decline downwards by USD 5-10/MT to USD 510-520/MT, FoB.
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