Galvanised plain coils (GP) / sheets are value – added steel products which basically involves zinc coating to make them tough, light weight, bright and corrosion resistant.
As per government data, India’s GP/GC sheets total production for sale stood at 7.33 MnT in FY17 against 7.18 MnT in previous fiscal.
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 55,500/MT; Delhi – INR 54,500/MT and INR 54,500/MT in Chennai. In Hyderabad GP offers are hovering in the range of INR 55,000-58,500/MT. Prices are inclusive of Excise Duty of 12.5%; VAT/CST extra.
Chinese HDG Export Offers Move Up
In line with increase in flat steel export offers in China, HDG prices have also seen the hike of USD 10-15/MT W-o-W, amid gains in the domestic market.
China’s 1mm HDG export offers are hovering in the range of USD 530-540/MT, FoB China. Last week the same was heard in the range of USD 520-525/MT on FoB basis.
Some major mills are also offering at USD 540-560/MT,on Fob basis while some are also trading at last week prices which are in range of USD 525/MT.However,trading activity remains sparse over lesser buying inquiries and uncertainty in the Chinese market.
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