Indian Color Coated Prices Soften on Slower Demand

This week, the domestic PPGI (Pre-painted Galvanized Iron) prices went down by INR 250-500/MT in the key markets amid sluggishness in buying activities in the domestic market. Traders and end-users have postponed their purchases in anticipation of further downside in prices.

Meanwhile, the piling up of inventories among traders and stockists pulled down color coated prices this week, which resulted in bearishness in the market.

Hence, the current PPGI trade reference price stands at INR 56,500-57,000/MT (ex-Mumbai) and INR 57,500-58,500/MT (ex-Delhi). The prices mentioned above are basic, and GST extra @18% is applicable.

A few market sources shared, "Traders are refraining from making any fresh bookings amid a lull in the downstream demand."

Along with this, Galvanized Plain Coil prices also witness a decline in the domestic market amid slack demand.

Current trade reference prices for Galvanized plain coil (0.7- 0.8 mm, 120 GSM) is at INR 50,000-51,000/MT (ex-Mumbai), INR 50,500-51,500/MT (ex-Delhi), 52,000-52,250/MT (ex-Chennai), and 51,500-52,000 (ex-Hyderabad). The prices mentioned above are basic, and GST extra @18% is applicable.