Indian PPGI prices have shown upward momentum and have witnessed increase of INR by 1000/MT in the beginning of this month in domestic market. However post hike, prices remain largely stable.
Improved demand and active buying lead to surge in PPGI prices.Meanwhile prevailing peak season also supported PPGI prices.
Currently,trade reference prices of PPGI (0.5mm, 90 GSM) is around INR 64,750-64,500/MT (ex-Mumbai) and INR 65,500-66,000/MT (ex-Delhi). The prices mentioned above are basic prices excluding GST@18%.
A manufacturer of PPGI based in Mumbai commented.”PPGI bookings are good this time,however supply is on lower side as handful of PPGI suppliers are active in the domestic market”
Also market sources added that due to arrival of monsoon season domestic PPGI prices may decline in near term.
Previously,Indian mills have raised PPGI prices by upto INR 1000/MT in the beginning of May.However later in the month prices continued to remain stable.
Domestic GP Prices rise marginally in domestic market- Domestic GP prices increases marginally by INR 500/MT in the beginning of the month.
However owing to dull trades prices have not yet absorbed fully in traders market.
Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at INR 56,000-56,750/MT (ex-Mumbai) and INR 57,000/MT (ex-Chennai) and INR 56,300-56,500/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST@18%.
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