Indian Plate prices await further revision in prices since the major steel-makers are planning to hike plate prices in the first week of April. However, plate prices remained unaltered for the last two consecutive weeks owing to slack demand in the domestic market.
Since the demand curve has shown marginal improvement leading to rise in domestic plate prices. Moreover, lack of inventory supplies has also compelled the manufacturers to raise the plate prices.
Current prices of commercial grade plate are hovering in the range of INR 35,000-36,000/MT(ex-mill). Prices are exclusive of Excise duty of 12.5%.
In major markets prices of plates are seen at INR 40,000-40,500/MT(ex-Delhi) and INR 40,750/MT (ex-Mumbai).Prices are inclusive of Excise duty of 12.5%.
However, plate export offers from India are hovering in the range of USD 495-510/MT, FoB India and around USD 545/MT, CFR Europe.
Chinese Plate Exports Offers Shrink on Weak Demand
China’s plate exports prices have declined further by USD 5/MT W-o-W owing to weak demand prevailing in the domestic market. Bearish sentiments in domestic market coupled with dull demand from overseas buyers lead to fall in plate export prices.
Current plate export offers are assessed in the range of USD 485-490/MT, FoB China. Last week the offers were heard in the range of USD 490-495/MT,on FoB basis.
Meanwhile prices of plates in domestic market are heard to be in the range of RMB 3,650-3,690/MT which is equivalent to USD 532-539/MT, including VAT taxes.
Market participants mentioned that further fall in plate prices is not possible as the Chinese mills are not facing any inventory pressures. Moreover, Chinese manufacturers are anticipating gains in the domestic market.
Some major deals have been heard from China to South East Asian Countries in the range of USD 465-475/MT on Fob basis and deals of South Korea are heard to be in the range of USD 480-485/MT on FoB basis.
CIS-Countries Plate Exports Offers Unaltered
CIS-Countries plate export offers remain consistent this week and are assessed in the range of USD 524-525/MT,FoB Black Sea.
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