Flat Steel Market Stable Amid Import Pressure and Weak Demand
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Flat steel prices remained stable across key cities. While local trade activity picked up slightly, overall sentiment remains weak due to excess imports and tepid industrial demand. Government support and upcoming policy shifts may stabilize the market, but caution persists. Buyers are mostly purchasing only on a need basis.
Key Highlights
- Flat steel prices hold steady across major cities
- Imports and high inventories weigh on margins
- Trade restocking seen ahead of possible price hikes
- Long-term outlook depends on policy and demand revival
Price Overview: Flat Steel Prices Stable Across Key Cities
- Markets reported no price changes in HRC & CRC as compared to the previous day in a few geographical locations. The prices of flat products in various markets are as below:
| Location | HRC (₹/MT) | CRC (₹/MT) | PM Plate (₹/MT) |
|---|---|---|---|
| NCR | 52,500 | 58,500 | 53,000 |
| Mumbai | 50,500 | 59,500 | 54,000 |
| Ahmedabad | 52,000 | 60,500 | 53,500 |
| Chennai | 51,500 | 60,500 | 53,000 |
| Kolkata | 50,000 | 58,500 | 51,500 |
| Hyderabad | 52,000 | 61,000 | 53,000 |
Demand & Supply: Imports Pressure Market Despite Internal Growth
- India’s HRC market is navigating strong internal demand growth and capacity expansion, yet is weighed down by a flood of low-cost imports and abundant inventory.
- Price volatility and narrow margins persist, though government tariff actions and targeted supply disruptions have offered some relief.
- The market outlook hinges on how well domestic producers can manage import risk and sustain production discipline.
Market News: Restocking Lifts Trade, But Sentiment Still Bearish
- Local Indian HRC market reverses decline, outlook still bearish amid lack of industrial demand.
- The local Indian hot‑rolled coil (HRC) market briefly reversed its decline as intra-trade restocking took place, anticipating upcoming base price hikes by mills.
- However, this uptick did little to change the broader bearish tone: industrial demand remains tepid and buyers continue need-based procurement only.
- Distributors and mills are still carrying large inventories and resorting to discount sales to free up cash, even as prices hold at lower-than-desirable levels.
- Sustained pressure from imports, particularly from ex-China offers, continues to undermine local margins.
- Without a visible recovery in manufacturing activity or industrial consumption, sentiment remains cautious to bearish going forward.
Industry Viewpoint: Growth Backed by Policy, Green Tech, and Demand Drivers
- India's steel market is expanding rapidly, fueled by infrastructure development, urbanization, and industrial growth. With abundant iron ore reserves and rising domestic demand, the country is increasing production to meet both local and global needs.
- Government initiatives like the National Steel Policy and Make in India are boosting local manufacturing and reducing import reliance.
- Key sectors such as construction and automotive are driving demand, while companies invest in advanced, sustainable technologies to improve efficiency and cut emissions.
- A strong focus on green steel, energy-efficient methods like electric arc furnaces, and circular economy practices is shaping the industry's future.
- As India upgrades its infrastructure, the steel sector is poised for continued growth through innovation and policy support.
Hot Rolled Plates
MS Hot Rolled Coils
Cold Rolled Coils
GI Coil
MS Flats
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