Trade reference prices of HR-plate (E250, 5-10mm) have dropped by INR 1,300/t w-o-w to INR 64,000-65,000/t ($851-864) exy-Mumbai basis, similar to the levels last seen in early -July'21.Declining global plate prices and need-based procurement by end-users at the current price levels continue to weigh on domestic trade market prices. Chinese heavy plate (SS400) export offers have also dropped by $15/t w-o-w to $790-800/t FOB.
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