Indian Color Coated Steel Prices Up on Improved Market Sentiments
This week Indian color coated / PPGI prices increased by INR 300-750/MT W-o-W in major markets following upside in HRC prices along with bullish sentiments prevailing in the domestic market. Improved buying in steel-consuming sectors and an uptick in demand resulted in an increase in PPGI prices this week in the trade market.
Thus, trade reference prices for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 51,750-52,000/MT (Ex-Mumbai), and INR 53,000-53,500/MT (ex-Delhi). The prices mentioned above are basic, and extra GST@18% is applicable.
Trade sources shared, “Indian steel mills are likely to increase GP and color coated prices in Dec’19 as the demand started to improve in the domestic market over restocking activities post Diwali holidays.”
Domestic Galvanized plain coil prices- Domestic GP prices also witness increase by around INR 500-1000/MT on a weekly basis.
Thus, currently, trade reference prices for Galvanized plain coil (0.7- 0.8 mm, 120 GSM) is at INR 43,500-44,000/MT (ex-Mumbai), INR 45,000-45,500/MT (ex-Delhi), INR 47,000-47,500/MT (Ex-Hyderabad) and INR 47,500-48,000/MT(Ex-Chennai). The prices mentioned above are basic, and GST extra @18% is applicable.
source: SteelMint
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