Plate manufacturers are saddled with a crisis back home as rise in imports for Plates led to concern for the domestic manufacturers. Plate prices remained stable as of now, but manufacturers offered discounts on MRP for fresh orders.
An importer based in Mumbai quoted,
“Current offers for Plates are around USD 545-550/MT CFR Mumbai. In the past few weeks, we have seen a rise in imports of Plates to India. These Plates are mainly from China & Korea. Some of these shipments were for the wind energy industry and pipe manufacturers based in Mumbai.”
Improving imports can build pressure on domestic prices as well. Currently, domestic Plate prices in Mumbai are trading in the range of INR 43,000-43,500/MT. Similarly, Plate prices in Ahmedabad traded within INR 43,500-43,800/MT for 5-10 mm thick Plates, whereas for 12-20 mm Plates, the prices were INR 44,250/MT.
Price Hike Expectation
It is noteworthy that some traders expressed their apprehension for a price hike within next few days. The quantum of hike could be anywhere between INR 300-500/MT.India: Plate offers at USD 545-550 CFR Mumbai
“We are expecting a price hike of INR 500/MT,” said the Gujarat based trader. Amidst this concern for cheaper imports, the logic of the price hike could not be justified. A trader based in Delhi said, “Trading prices of Plates are already up by INR 300-500/MT on this speculation of price hike; however this hike is temporary, as we expect the prices to revert back to the previous levels in next few days.
There is no substantial reason for this hike in prices, as demand has not seen a major revival in Delhi & NCR region. Domestic Plate prices in Delhi are trading in the range of INR 43,250-43,500/MT.
*Note: All prices include ED, Taxes extra
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