Current offers for 1-1.2 mm (100 Zinc) SGCC grade galvanised coils are assessed in the range of USD 580/MT, CFR Middle East basis from India. Domestic offers for galvanised coil are in the range of INR 37,000-39,000 (ex-works, excluding excise).
As per trade sources, domestic GP/GC prices have fallen significantly over last one year. This is mainly due to more than 20% fall in HRC prices and drastic decline in one of its major raw material cost, zinc.
Export Market
Major players in India in this industry are Uttam Galva Steels, JSW, POSCO, and Essar Steel. India is net exporter of GP/GC sheets as its imports are subjected to adherence of BIS norms. India majorly exports to countries such as Middle East, Europe, US. However, Indian GP/GC export faces tough competition from Chinese offers which are usually USD 20/MT lesser than Indian export prices.
India’s total GP/GC production was recorded at 6.69 MnT in FY15, out of which total export was 1.63 MnT. In last five months, India’s GP/GC export is recorded at 0.39 MnT.
India’s Country wise GP/GC Exports from Apr’15
|
Importing Countries |
Apr’15 | May’15 | Jun’15 | Jul’15 |
Aug’15 |
| USA | 36,160 | 20,461 | 23,230 | 17,256 | 11,084 |
| UAE | 8,140 | 10,757 | 15,193 | 15,231 | 13,766 |
| Africa | 7,186 | 2,841 | 15,193 | 8,912 | 95,98 |
| Belgium | 4,243 | 8,935 | 8,153 | 312 | 244 |
| Spain | – | 7,214 | 304 | 11,578 | 325 |
| Others | 26,366 | 30,647 | 15,959 | 38,566 | 34,594 |
| Total | 82,096 | 80,854 | 78,033 | 91,944 | 5,9612 |
Quantity: MT Tonnes
Source: Customs Data
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