According to Mining News Pro -This week India’s domestic PPGI market has remained dull amid limited inquiries along with sluggish demand prevailing in domestic market. Towards the beginning of the month, major Indian steelmakers had increased PPGI prices by around INR 1,250-2,000/MT.
However offers from major steel manufacturers remain on higher side.Essar Steel is offering around INR 65,000-66,500/MT (ex-Mumbai, GST extra).And JSW Steel is offering around INR 72,000-73,000/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST@18%.
Current trade reference prices for PPGI (0.5 mm,90GSM )are hovering in the range of INR 64,500-72,000/MT (Ex-Mumbai).The prices mentioned above are basic prices excluding GST@18%.
Also Delhi based manufacturer is offering PPGI (0.8 mm 90GSM) at around INR 66,500-67,000/MT (ex-Delhi, GST extra).
Few trade sources shared that,”Slow demand ahead of festive season along with liquidity issue in western India leads to thin trading in domestic market”.
Galvanized Plain Coil prices remain stable in domestic market-This week domestic GP prices remained stable after witnessing increase in domestic market by around INR 1,250-1,500/MT in first week of October.
Currently trade reference prices for Galvanized plain coil (0.8 mm, 120 GSM) is at INR 56,000-59,000/MT (ex-Mumbai),INR 55,500-56,000/MT (ex-Delhi), INR 57,500-59,500/MT (ex-Hyderabad) and INR 57,500/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.