Indian HDGI market has witnessed limited trades this week. Few deals were reported to with European market.
Market participants mentioned that Indian exporters were quoting HDGI (SGCC dx 51a)export offers on higher side which was around USD 845-850/MT FoB India. This will be equivalent to USD 885-890/MT CFR Europe.
However,owing to higher prices European buyers have booked the material in small quantities at USD 875-878/MT CFR Europe.
Indian GP/GC & color coated exports in FY18
According to Joint Plant Committee, (govt. of India) from 01 Apr’17-31 Jan’18, India’s exports of GP/GC and coated products was recorded at 0.92 MnT, out of which volumes of GP/GC was 0.86 MnT.
Major destinations for GP/GC and color coated export goods from India stood were Belgium (0.18 MnT) followed by Spain, UAE , Italy and others.
Domestic GP prices in India showed uptrend in domestic market- Domestic GP (Galvanized plain coil) witness increase in the month of March amid surge in flat steel prices by INR 1000/MT in domestic market.
Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at : INR 55,000MT (ex-Mumbai), INR 54,000-55,000/MT (ex-Chennai), INR 55,500-56,000/MT (ex-Delhi) and INR 56,000/MT (ex-Hyderabad).
Chinese HDGI export offers decline amid softening domestic market –
This week Chinese HDGI (1 mm) move down by USD 10/MT owing to volatility and uncertainty in domestic market.
Currently HDGI 1mm 120 g zinc coated export offers are assessed at USD 690-710/MT,FoB China.Last week the offers were heard around USD 700-710/MT FoB basis.
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