India: Monthly average trade segment prices of HR plates increase by INR 300/t

• Prices of HR, HSM plates edge down w-o-w
  
  
• Need-based procurement weighs on market

  
  
  

The monthly average prices of HR plates (IS2062, Gr E250 Br, 20-40 mm) rose by up to INR 300/t to INR 53,600/t in October from INR 53,300/t in September.

In the current week, as per BigMint's weekly assessment, HR plate (IS2062, Gr E250 Br, 20-40 mm) tags decreased by up to INR 300/t w-o-w to INR 52,000-54,500/t exy-Mumbai on 06 November 2024. Additionally, prices of hot strip mill (HSM) plates (IS2062, Gr E250 Br, 5-10 mm) decreased by INR 200/t w-o-w to INR 48,500-49,500/t exy-Mumbai. Prices exclude 18% GST.

Market overview

Trade market sentiments mixed: The trade market saw mixed trends, as minimal movements were observed amid need-based procurement. It is rumoured that mills increased list prices for November by INR 1,000/t to INR 51,000-53,000/t. However, the same could not be confirmed from the mills' end.

Global plate export offers up: Chinese heavy plate (SS400) export offers were at $515/t FOB China this week, having moved up by $5/t from $510/t FOB seen in the previous week.