Post flat products price hike on 4 April’16 from manufacturer’s end, domestic plates prices observed an increase of INR 1,500/MT and since then its prices have remained unchanged.
Current offers for commercial grade (base size 16-20mm) plates are assessed at INR 30,000/MT (ex-works, excluding excise of 12.5%).However, if market sources are to be believed, manufacturers are likely to increase prices once again by month end.
“MIP on plates is USD 500/MT. Domestic plates prices are still lower than its landed cost of plates import resulting which Indian manufacturers have scope to increase prices further”, quoted a trader based in Delhi.
Only recently on 11 April, DGAD (Department of Anti-Dumping and Allied Duties) have started their anti-dumping duty investigation concerning imports of HRC and plates after a petition was filed by five major Indian steel majors.
Thus if anti-dumping duty is also imposed by the government, imports in to India will be highly restricted and Indian steel manufacturers will have complete edge over imported material.
Global Plates Offers
Chinese plates offers are heard at USD 370-380/MT, FoB China whereas offers from CIS countries are assessed at USD 400-430/MT, FoB Black Sea. The prices in global market have increased by USD 80-90/MT over past one month. However, as per SteelMint analysis, this price surge is only driven by bullish sentiments in China’s domestic market and is not backed by any fundamental reasons.
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