This week PPGI (Pre-painted galvanized iron) coil prices witnessed further reduction by upto INR 1000-1200/MT as buyers have stalled their purchase activities amid ongoing rainy season. Meanwhile reduced trades continue to pull down color coated prices in domestic market.
Thus in trade segment prices are continuously sliding down to stimulate buying in domestic market. Along with this steel mills are also trying to provide pricing support in form of discounts and rebates to improve sales in domestic market.
Currently trades reference prices for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 53,500-54,000/MT (Ex-Mumbai) depending on companies make and INR 54,500-55,000/MT (ex-Delhi). The prices mentioned above are basic and extra GST@18% is applicable.
Few industry participants shared that, major color coated manufactures have revised the prices for PPGI for Sep month. However the revised offers couldn’t be confirmed while publishing this report.
A trader based in Mumbai shared that,” We are optimistic about market sentiments post monsoon season with the arrival of festive season in India. As of now buyers have put off their purchase plans and pessimism continue to prevail in domestic market”.
Domestic Galvanized plain coil prices- Galvanized coils prices also slumped by INR 750-1000/MT over low demand and limited trades happening in domestic market.
Currently trade reference prices for Galvanized plain coil (0.7- 0.8 mm, 120 GSM) is at INR 46,500-47,000/MT (ex-Mumbai), INR 48,000-48,250/MT (ex-Delhi), INR 48,000-48,250/MT (Ex-Hyderabad) and INR 48,000-49,000/MT(Ex-Chennai). The prices mentioned above are basic and GST extra @18% is applicable.
Leave a Reply