Flat Steel Market Holds Steady as Demand Recovery Continues
Key Takeaways
- Flat Steel Prices Unchanged: No significant price changes reported in HRC, CRC, or PM plate across major markets.
- Demand Recovery Continues: Growth in automotive, infrastructure, and construction is driving moderate recovery in flat steel demand.
- Imports Pose Challenges: Cheap imports from China, South Korea, and Japan threaten domestic pricing and market stability.
- Government May Intervene: Anti-dumping measures are being considered to curb rising imports and support local producers.
- AM/NS Expansion: The company has started land acquisition for a major steel plant in Andhra Pradesh, boosting future capacity.
Flat Steel Price:
- Markets reported no price changes in HRC and CRC as compared to the previous day in a few locations. The prices of flat products in various markets are as below:
- Location HRC CRC PM PLATE
- NCR 49500 55500 50000
- Mumbai 50000 57000 50500
- Ahmedabad 51000 57000 51500
- Chennai 51000 59500 51500
- Kolkata 48000 56000 52500
- Hyderabad 50000 60000 50500
Flat Steel Demand and Supply
In April 2025, India's hot-rolled coil (HRC) market is witnessing moderate demand recovery, driven by key sectors like automotive, construction, and infrastructure. While demand is expected to rise, challenges include pressure from cheap imports, particularly from China. The government is likely to implement anti-dumping measures to protect domestic producers, potentially stabilizing prices. Major steelmakers are expanding capacities, and long-term demand is expected to grow with infrastructure development and "Make in India" initiatives. However, competition from imports remains a key concern.
Flat Steel News:
India's AM/NS has started the land acquisition process for its new greenfield steel mill project in Andhra Pradesh. The project, expected to be one of the largest steel production facilities in the region, will significantly enhance the company's manufacturing capabilities. This expansion aligns with AM/NS's strategy to strengthen its position in the domestic steel market and boost production capacity. The new mill is expected to meet the growing demand for steel in India’s industrial and infrastructure sectors. The project will also create employment opportunities and contribute to local economic development.
Expert Opinion:
As of April 2025, steel distributors in India face a complex market with both growth potential and challenges. Domestic steel demand is expected to grow by 8-9% in 2025, driven by the housing and infrastructure sectors. However, distributors are concerned about rising imports from China, South Korea, and Japan, prompting the Indian Alloy Steel Producers' Association to consider anti-dumping actions. Regulatory changes, such as import restrictions on metallurgical coke, have disrupted supply chains, while price volatility due to cheap imports affects profit margins. Despite these challenges, the long-term outlook remains positive, depending on how the industry adapts to these issues.