Domestic plate prices fell by INR 500/MT after stability in market during last two weeks. Current offers for plates of base size 16-20 mm are assessed at INR 24,500-25,000/MT (ex-factory, excluding 12.5% excise) and INR 29,000/MT (ex-Delhi, including 12.5% excise).
Prices have fallen due to high inventory pressure from domestic steel majors, especially SAIL (Steel Authority of India Limited). Even at this rates, parity is not achieved between domestic prices and imported offers.
However recently, Steel Secretary of India mentioned that safeguard duty on imported plates is very much likely. Owing to this, Indian buyers have stalled their import bookings for plates.
Current offers for commercial quality (S235 equivalent to A36) from China are assessed at USD 270-280/MT, CNF India. Although there are no firm offers from POSCO-Indonesia, last offers were heard to conclude at USD 310/MT, CNF India.
Leave a Reply