Domestic Plate prices have not witnessed any major changes this month. Indian plate prices remain stable at around INR 37,000-37,500/MT (Basic Price, Ex-works). Prices for size 5-20MM and commercial grades remain same across India.
Indian manufacturers of plate are optimistic, as they see domestic prices to find support owing to mounting export offers and low imports. They are expecting an uptrend in prices for the month of January, although, quite a lot will depend on buying sentiments. However, the quantum of price increase is not yet known. As per the sources, Korea and Japan have raised their prices due to a rise in their domestic demand. This will help India to marginally increase its export prices.
SteelMint learned from sources that no major imports are taking place at Ahmedabad. “Domestic demand is not robust and we are not importing as of now”. An Importer based in Ahmedabad said. The import price for plates in Kandla is around USD 600-USD 613(INR 37,000-38,000/MT). Domestic prices for 8-12mm Plate in Ahmedabad is at INR 38,000/MT (Basic price).
Price in Delhi for 5-10mm plate is INR 43, 000/MT (including Excise duty, VAT Extra) and for 10-20 mm plate is INR 42, 200/MT(including Excise duty, VAT Extra). Price for 5-10mm plates in Faridabad is at INR 42,500/MT (including Excise duty, VAT Extra).
Domestic HRC prices remain at INR 37000-37500/MT (Ex Works). Last week, Indian exporters raise HRC offers by USD 5-10/MT owing to increasing offers from Japanese sellers.
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