India is encountering a period of weak steel demand. Prices in the graphite electrode (GE) market have been trending down since January 2019 to the present. According to research provided to SteelOrbis, GE prices in late June have declined and are estimated to tick down further in July. A source noted that raw material prices for graphite electrode production are narrowing margins for producers which should begin to push back in late summer once the “nervousness in the global markets on trade settles as well as India regains steam with new administration policies and changes.”
|
GE prices India, ex-works 2019 |
HP INR/mt |
HP $/mt |
UHP INR/mt |
UHP $/mt |
|
Jun* (June 13 $= INR 69.53) *early in month carried, over from May |
400,000 |
$5,753 |
700,000 |
$10,068 |
|
Jun (June 28 $= INR 68.95) |
300,000 |
$4,351 |
550,000 |
$7,977 |
|
Jul (estimated $= INR 69.00) |
280,000 |
$4,058 |
500,000 |
$7,246 |
|
Expected Change |
|
-7 percent |
|
-9 percent |