Indian Plate prices has witnessed further drop this week owing to sluggish demand prevailing in the domestic market. As a result, inventory levels have gone up and sales volume has reduced to the lowest level. Hence,traders have started selling stock in discounts to the consumers in order to cope up with sales target.
Market participants have mentioned that there was no major improvement in the demand and therefore, traders have cut the plate prices by INR 500-1000/MT this week and most of the manufacturers have decided to roll over the prices.
Current offers of commercial grade plate are hovering in the range of INR 38,000-39,000/MT,(ex-mill). Prices are exclusive of Excise Duty of 12.5%.
Whereas plate prices are assessed in the range of INR 41,000-41,500/MT (ex-Mumbai) and INR 41,500-42,000/MT( ex-Delhi). Prices are inclusive of Excise Duty of 12.5%.
Chinese plate export offers down USD 5-10/MT W-o-W
Chinese HR plate export prices have declined by USD 5-10/MT and are hovering in the range of USD 455-460/MT,FoB China. Although trading activity remains lean and situation of stalemate prevails between buyers and sellers in the market. Overseas buyers are anticipating further fall in plate prices whereas Chinese mills are reluctant to sell below standard prices.
CIS Countries plate offers remain firm this week
CIS-origin plate prices remain consistent this week and are assessed in the range of USD 480-530/MT,FoB Black Sea. Plate prices largely remained unchanged this week due to massive gaps between bids and offers.
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