Indian Color Coated Prices Rise with Improved Buying

Major Indian steel mills like JSW Steel, Essar Steel have raised color coated steel prices by INR 750-1000/MT for Nov deliveries. Companies have raised offers amid uptrend in HRC prices and improved demand in the domestic market.

Thus trade reference prices for PPGI (0.5 mm, 90GSM) are hovering in the range of INR 51,000-51,500/MT (Ex-Mumbai) and INR 51,500-52,500/MT (ex-Delhi) depending on companies make. The prices mentioned above are basic and extra GST@18% is applicable.

Trade sources shared that, "Sentiments in the domestic market have improved slightly. Meanwhile, traders remain hopeful that prices shall sustain in the market."

Further improvement in HRC prices may result in an uptick in color coated prices in the near term.

Domestic Galvanized plain coil prices- Currently trade reference prices for Galvanized plain coil (0.7- 0.8 mm, 120 GSM) is at INR 42,500-43,000/MT (ex-Mumbai), INR 44,000-44,500/MT (ex-Delhi),INR 45,000-45,500/MT (Ex-Hyderabad) and INR 45,500-46,000/MT(Ex-Chennai). The prices mentioned above are basic and GST extra @18% is applicable.