HR Plate offers in Indian domestic market has remained stable after witnessing an uptick in the month of August and September. Low imports and better exports have supported domestic prices
Currently 5 to10 mm size HR plate in domestic market is standing in the range of INR 37,000-38,000 per metric ton (MT) (US$ 591-607/MT) on ex-works basis, whereas export offers are largely pertaining in the range of US$ 525-535/MT FOB Indian East coast.
Market participants mention that overall demand has not been very encouraging at the moment, but prices are hovering in the range of INR 37,000- 38,000/MT on ex-works basis. They also mentioned that imports are not viable due to depreciated Indian Rupee. Current offers from China and CIS countries are in the range of US$ 570-580/MT CFR India.
On the other side export prices for commercial-grade, boron-containing plate from China is in the range of $520-525/MT FoB for January shipment.
Looking at a future outlook market participants are of view that offers from manufacturers will continue to hold offers till Rupee finds some strength against USD.
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