Indian steel plate price stable
2014-10-31 09:03:20 [Print]
BEIJING (Asian Metal) 31 Oct 14 - Steel plate prices remain unchanged in most markets in India including Mumbai and New Delhi after the seven-day holiday for Diwali Festival
A source from JSW Steel in New Delhi reports to Asian Metal that the retailing price of IS2062 10-20mm produced by the steel mill is INR41,000/t VAT included (USD669/t) for the time being, the same as last week.
The source reveals that the ex-works price of the above-mentioned material is INR36,000/t VAT excluded (USD587/t). He confirms that the steel mill reduced the ex-works price of steel plate by INR500/t (USD8/t) for October delivery due to the shock of cheap materials from China . As downstream demand shows no signs of improving after the holiday, he does not think the steel plate price will increase in following several days.
Another steel plate trader in Mumbai shows that the offer for IS2062 16-20mm produced by domestic mills is around INR40,750/t VAT included (USD664/t) currently, no change compared with last week.
The source conveys that the price of the IS2062 5-10mm is also stable at INR41,000/t VAT included (USD669/t). He shows that downstream demand did not increase as expected after the holiday, so distributors did not hike their offers but just keeping them stable to watch the market . Given that the inventory is still at a relatively high because more materials imported from China and other countries arrive in the local market, he predicts that the steel plate price is hard to increase in the short run.
. Given that demand is still low and cheap materials imported from China are increasing, insiders predict that the steel plate price is unlikely to go up in the short run.
A source from JSW Steel in New Delhi reports to Asian Metal that the retailing price of IS2062 10-20mm produced by the steel mill is INR41,000/t VAT included (USD669/t) for the time being, the same as last week.
The source reveals that the ex-works price of the above-mentioned material is INR36,000/t VAT excluded (USD587/t). He confirms that the steel mill reduced the ex-works price of steel plate by INR500/t (USD8/t) for October delivery due to the shock of cheap materials from China . As downstream demand shows no signs of improving after the holiday, he does not think the steel plate price will increase in following several days.
Another steel plate trader in Mumbai shows that the offer for IS2062 16-20mm produced by domestic mills is around INR40,750/t VAT included (USD664/t) currently, no change compared with last week.
The source conveys that the price of the IS2062 5-10mm is also stable at INR41,000/t VAT included (USD669/t). He shows that downstream demand did not increase as expected after the holiday, so distributors did not hike their offers but just keeping them stable to watch the market . Given that the inventory is still at a relatively high because more materials imported from China and other countries arrive in the local market, he predicts that the steel plate price is hard to increase in the short run.