India : Dull Demand Softens Domestic PPGI Prices

This week domestic PPGI (Pre Painted Galvanized Steel) prices fell slightly over weak buying interest among end users and tedious demand prevailing in domestic market.

Thus current reference prices in traders market of retail section for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 59,000-59,250/MT (Ex-Mumbai) and INR 59,000-61,000/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST@18%.

However few industry participants shared that, "Demand for color coated sheets will continue to remain sluggish amid arrival of monsoon season as construction activities come to halt. This is likely to keep prices on lower side."

Whereas domestic PPGI prices remain largely stable in the month of May-June amid firm demand in domestic market.

Domestic Galvanized Plain Coil prices remained steady- This week GP prices continued to remain steady in domestic market.

Currently trade reference prices for Galvanized plain coil (0.8 mm, 120 GSM) is at 50,000-51,500/MT (ex-Mumbai),INR 50,500-51,500/MT (ex-Delhi),INR 50,000-51,000(Ex-Hyderabad) and INR 50,500-51,500/MT (Ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.