Indian Plates Price Rises amid Bullish Sentiments

After the imposition of anti dumping duty on flat products Indian manufactures have raised their domestic plates prices by INR 1,000/MT.

Current offers for commercial grade (base size 16-20mm) plates are assessed at INR 29,500-30,000/MT (ex-works, excluding excise of 12.5%).

As per market sources, demand is likely to improve in the upcoming month of September with reduced intensity of rains which will lead to subsequent increase in domestic flat products prices including plates.

Global Plates Offers

The sentiments in China’s domestic steel market are also quite positive which has also led to increase in its plates export offers week-on-week basis. Current export offers from China are assessed at USD 365-385/MT, FoB basis.

Even Indian manufacturers have become quite active in export market given the good realizations from export sales. Offers from India for plates in overseas market are being heard at USD 380-385/MT, FoB India basis.

CIS-origin plates offers are currently  being assessed  at USD 340/MT- 350/MT,FoB Black sea.

Plates Prices as on 20 Aug’16

*Prices excluding excise of 12.5%
Source: SteelMInt Research