India: Domestic PPGI Prices Move Down in Traders Market

Indian steel manufacturers have cut PPGI prices by INR 1500-2000/MT following decline in HRC and CRC prices for the month of December.

Current reference prices in traders market of retail section for PPGI (0.5 mm,90GSM ) are hovering in the range of INR 61,000/MT (Ex-Mumbai).The prices mentioned above are basic prices excluding GST@18%.However JSW is offering around 65,000-66,000/MT (Ex-Mumbai, GST@18%.) in traders market.

However PPGI (0.8 mm 90 GSM) trade reference prices in Delhi is around INR 61,000-62,000/MT (ex-Delhi,GST extra @18%).

Meanwhile in the month of November domestic PPGI prices witnessed decline by INR 500-1000/MT amid arrival of festive season and liquidity issues.

Domestic Galvanized Plain Coil prices decline- This week domestic GP prices decline by INR 1500-2000/MT over weak purchases in domestic market.

Currently trade reference prices for Galvanized plain coil (0.8 mm, 120 GSM) is at 51,000 - 54,000/MT (ex-Mumbai),INR 53,000/MT (ex-Delhi),INR 53,000/MT (ex-Hyderabad) and INR 54,000/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.