India: Trade market prices of galvanised coil drop INR 2,200/t ($28/t) w-o-w

The trade reference price of galvanised plain coil (GP) dropped by INR 2,200/t ($28/t) in the key market of Mumbai, Maharashtra. The current price of GP (0.8mm, 120gsm) stands at around INR 84,500-85,500/t ($1,091-1,104/t) exy Mumbai, excluding GST at 18%. Buyers are waiting in anticipation of a further decline in prices and the trading momentum is slow at present, distributor sources shared with SteelMint.