Indian medium and thick plate prices drop due to weak demand
Time:Wed, 27 Apr 2022 06:00:17 +0800
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Last week, in India's major markets, the price of medium and thick plates dropped by about US$40/ton due to weak demand. It is known that in both domestic and oversea markets, the demand for Indian hot-rolled products goes down at the moment.
Since prices of raw materials kept rising, the construction activities of infrastructure and housing slowed down slightly. During the period from February to March, Indian steel factories received enough export orders. Up to May, those mills still have sufficient availability for export orders.
As Middle East buyers now prefer to purchase domestic products, it was estimated that Indian mills may adjust their quotations in the short term.
