India:Domestic PPGI Prices Remain Firm in Traders Market

This week Indian PPGI prices remain firm amid lesser trades prevailing in domestic market. Thus trade prices remain largely stable this week owing ongoing elections happening in domestic market.

Thus current reference prices in traders market of retail section for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 59,000-60,000/MT (Ex-Mumbai) and INR 59,500-62,500/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST@18%.

Few traders reported that, “Bookings of colour coated coils was better compared to HRC and CRC trades in domestic market”.

Meanwhile buyers are also expecting price support in form of discounts and rebates to increase buying.

In the beginning of this month,major Indian steelmakers have announced roll over in PPGI (Pre Painted galvanized prices) for May deliveries.

Domestic Galvanized Plain Coil prices in traders market- Currently trade reference prices for Galvanized plain coil (0.8 mm, 120 GSM) is at 50,000-53,000/MT (ex-Mumbai) and INR 52,000/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST@18%.