India: Domestic Plate Prices Remain Steady Over Seasonal Slowdown

Domestic plate prices have remained stable this week after witnessing continuous correction over seasonal slowdown with onset of monsoon season and thin trades happening in domestic market.

Currently trade reference prices for HR plate (5-10mm,IS2062) in traders market are hovering around INR 37,500-38,500/MT (ex- Mumbai) and INR 37,000-38,000/MT (Ex-Delhi). Prices mentioned above are basic and extra GST @18% is applicable.

Meanwhile traders are waiting for price announcement by major steel mills in the month of August .

Chinese plate export offers kept unchanged- Nation’s HR plate export offers remain unchanged since last two weeks over dull demand prevailing among downstream buyers.

Currently Chinese origin heavy plate prices stands at USD 515-520/MT FoB China stable against the offers stood a week ago.

Higher inventory levels and dull demand along with competitive offers from other major exporting nations kept China’s plate offers largely unchanged.