India: Domestic HR Plate Prices Remain Moderate on Thin Trades
This week HR plate prices were reported largely stable on weak demand prevailing in the domestic market. Market participants in trade segment shared that recent increase in prices by steel manufacturers didn’t passed on to retail market over limited inquiries. Buyers are postponing their purchases amid higher plate prices.
The current trade reference price for HR-Plate (IS 2062, 5-10mm) stands at INR 37,500-38,250/MT (ex-Mumbai), and INR 38,000-38,300/MT (ex-Delhi). Prices mentioned above are basic, and extra GST @ 18% will be applicable.
--"Approaching festive holidays next week and the end of the fiscal year this month may lead to slow off take in buying activities and shall pull down prices in the near term “shared by plate traders in Mumbai and Delhi.
--Other market participants are expecting that mills may provide discounts or rebates to push buying later this month. However mills have announced hike in HRC and CRC prices by INR 500-750/MT for Mar'20.
Chinese heavy plate offer remains stable on slow buying
-- The Chinese heavy plate exports offers remained stable on a weekly premise as the gap between offers and bids remained wide. Also, higher export offers resist buyers to make fresh bookings.
-- The current export offers continued to hover at USD 462-470/MT FoB China. Major plate producer is offering at around USD 475/MT FoB China.
source: SteelMint
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years