Major Indian steel mills have raised export offers for HDGI (Hot Dipped Galvanized Iron, SGCC dx 51a) by USD 15/MT on weekly basis.
Currently HDGI export offers stands at USD 765/MT,FoB India against previous week’s assessment of USD 750/MT, FoB basis.These offers are equivalent to USD 805/MT CFR basis.
Chinese HDGI export offers moved up marginally –
Chinese HDGI (1 mm) export offers also moved up marginally this week by USD 5/MT for Jan shipments.
Currently HDGI 1mm 120 g zinc coated export offers are assessed at USD 665-675 /MT,FoB China.
Major mills in China are offering HDGI around USD 670-680/MT.Last week some deals have been concluded in small volumes around USD 650/MT FoB basis.
Arrival of winter season in China has affected the supply of flat steel in domestic market.This has affected the HDGI market also which in turn lead to higher export offers from China.
Domestic Galvanized plain coil prices remain supported-
Domestic GP prices remained on higher side amid bullish sentiments prevailing in domestic market.Hike in flat products prices by major Indian steel mills has resulted to improved bookings and active buying in domestic market.
Currently price assessment for Galvanized plain coil (0.8 mm, 120 GSM) is at : INR 52,000-52,500/MT (ex-Mumbai), INR 49,000- 51,000/MT (ex-Chennai), INR 50,000/MT (ex-Delhi) and INR 50,000-53,750/MT (ex-Hyderabad).
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