In line with hike in domestic HRC/CRC prices, plate offers have also moved up . Major Indian private steel players have raised plate offers by INR 3000/MT for Jan’17.
Current offers of commercial grade plate are hovering in the range of INR 39,000-39,500/MT,(ex-mill). Prices are exclusive of Excise Duty of 12.5%.
However traders who have inventories left out with them are still offering material at last month’s price.
Whereas plate prices in ex-Mumbai and ex-Delhi are assessed in the range of INR 44,000-44,500/MT. Prices are inclusive of excise duty 12.5%.
Demand continues to remain limited and no deals were reported at new price levels.
Surge in coking coal and iron ore prices has ultimately showing its effect on flat steel prices. However, post demonetization has affected the end user segments to great extent causing poor and weak demand in domestic market. Beside this sales volume has witnessed the drastic fall owing to liquidity crunch in the domestic market.
Indian Steel-makers Hike Plate Export Offers:
Major Indian private steel players have hiked export offers to USD 570-590/MT, FoB India. Thus offers have moved up by USD 50-55/MT. However no major deals are settled yet.
Whereas export offers from China are assessed in the range of USD 450-455/MT,FoB China.
Export offers from CIS countries are heard in the range of USD 470-480/MT,FoB Black Sea.
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