HDGI (Hot dipped Galvanised iron) export offers from India remain unaltered this week and are hovering in the range of USD 660-670/MT FoB India. Last week offers were also hovering in the same range.
China HDG coil export offers Remain Static Amid Thin Buying
Chinese HDG coil prices remained stable this week due to limited trades.Thin buying activity among the overseas buyers lead to stability in HDG prices.
Currently China’s 1mm HDG export offers are hovering in the range of USD 545-550/MT, FoB China. Last week the same was heard in the range of USD 530-535/MT on FoB basis.
Major mills in China are offering in the range of USD 550-555/MT which can be negotiated.Since South East Asia is experiencing early arrival of monsoon leading to limited trades from overseas buyers.However,Market participants also mentioned that demand is on lower side from Middle East countries also on account of Ramadan festival.
India-Domestic GP Prices Stable over Dull Demand
Domestic GP prices remain unaltered this week. Stockiest and traders kept away from maintaining high stocks ahead GST implementation and dull demand.
Currently,prices of 0.80 mm GP across other major markets are hovering in the range as follows: Mumbai – INR 54,000-5,5000/MT; Delhi – INR 52,500/MT and INR 53,000-54,500/MT in Hyderabad. Prices are inclusive of Excise Duty of 12.5%; VAT/CST extra.
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