Prices have come down by INR 1000-1500/MT (USD 14-21/MT) on weekly premises.
This week India’s domestic PPGI prices witnessed decline by INR 1000-1500/MT owing to weakening market sentiments and dull buying prevailing in domestic market. However in the beginning of the month major Indian mills roll over PPGI prices for Nov deliveries.
Current reference prices in traders market of retail section for PPGI (0.5 mm,90GSM ) are hovering in the range of INR 61,500-62,500/MT (Ex-Mumbai).The prices mentioned above are basic prices excluding GST@18%.However JSW is offering around INR 66,000-68,500/MT (Ex-Mumbai,GST@18%.) in traders market.
However PPGI (0.8 mm 90GSM) trade reference prices in Delhi is around INR 62,250-63,000/MT (ex-Delhi, GST extra @18%).
Meanwhile trade sources are expecting correction in domestic PPGI prices from major Indian manufacturers in the month of December.
Galvanized Plain Coil prices remain on lower side-This week domestic GP prices move down in traders market amid sluggish buying in domestic market.
Currently trade reference prices for Galvanized plain coil (0.8 mm, 120 GSM) is at INR 53,500-55,000/MT (ex-Mumbai),INR 53,000-54,000/MT (ex-Delhi),INR 55,500/MT (ex-Hyderabad) and INR 55,000/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.
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