India: Color coated steel prices stable after sharp hike in early Jun'20

Domestic PPGI (pre-painted galvanized iron) prices remained unchanged on a weekly basis after witnessing a sharp hike in early Jun'20.

The current PPGI (0.5 mm 90 gsm) trade reference price stands at INR 56,250-56,500/t (ex-Mumbai) and INR 56,500-57500/t (ex-Delhi).The prices mentioned above are basic, and GST extra @18% is applicable.

Towards the beginning of Jun'20, domestic PPGI prices in India witnessed a sharp hike of around INR 1,000/t w-o-w. The primary reason behind price surge was increased seasonal demand for coated steel which generally increases before the monsoons for roofing requirements, shared trade sources.

However, now the demand has turned slow with the arrival of monsoons, sources added.

Along with this, galvanized plain coil prices also remained stable on a weekly basis.

Current trade reference prices for galvanized plain coil (0.7- 0.8 mm, 120 GSM) is at INR 47,000-48,000/MT (ex-Mumbai), INR 50,000-50,500/MT (ex-Delhi), 51,000-52,000/MT (ex-Chennai), and 50,000-50,500 (ex-Hyderabad).The prices mentioned above are basic, and GST extra @18% is applicable.