India's major HR-plate producers namely JSPL, SAIL, AMNS have sharply raised their list prices of HR plates by around INR 2,000-2,500/t at the list price for Sep '20, SteelMint learned from company officials.
After the increase, the HR-plates (IS 2062, 5-10 mm) list prices stand at INR 40,000-40,500/t (exy- Mumbai). Prices do not include GST extra @18%.
Market sources shared that the plate prices have increased due to:
- Tight supply of HRC in the domestic market.
- Consumer demand is on a rise, mainly from the infrastructure sector.
- Decent orders from the power segment.
On the other hand, few trade sources shared that "Customers in the urgent need of material are buying and rest have adopted a wait and watch mode. Limited buying activities are observed post announcement of a price hike."
China's heavy plate export offers up by $5/t on the week- Nation's export offers for heavy plate uptick by $5/t on the back of rising cost of raw materials and decent domestic market demand. The current week offer stands at $505-515/t FoB China as against $500-510/t FoB basis a week back.