Flat Steel Prices Hold Steady Amid Rising Imports, Demand Driven by Infra Projects

Key Highlights

• Price Stability: Flat steel prices remain steady, with HRC rates ranging between Rs 48,000-51,000 across major cities.
• Demand Growth: Infrastructure and housing projects continue to drive an 8-9% rise in steel demand.
• Import Challenges: Surge in imports from China, South Korea, and Japan is affecting domestic producers.
• Government Action: India is considering a 15-25% safeguard duty on steel imports to protect local manufacturers.
• Market Sentiment: While growth prospects remain strong, rising imports and global trade tensions create a cautious outlook.

Flat Steel Price:

• Markets reported price changes in HRC & CRC as compared to the previous month in a few geographical locations. The prices of flat products in various markets are as below:

HRC offers (Grade: E250 BR, Size 2.5-8.0 mm)

• Ex-NCR/Delhi: Rs. 49,500/ton
• Ex-Mumbai: Rs. 50,000/ton
• Ex-Ahmedabad: Rs. 51,000/ton
• Ex-Chennai: Rs. 51,000/ton
• Ex-Kolkata: Rs. 48,000/ton
• Ex-Hyderabad: Rs. 50,000/ton

CRC offers (Grade: IS513, Size 0.80-2.00 mm)

• Ex-NCR/Delhi: Rs. 55,500/ton

• Ex-Mumbai: Rs. 57,000/ton

• Ex-Ahmedabad: Rs. 57,000/ton

• Ex-Chennai: Rs. 59,500/ton

• Ex-Kolkata: Rs. 56,000/ton

• Ex-Hyderabad: Rs. 60,000/ton

• PM Plates prices for Kolkata stand at around Rs. 52,500/ton and Rs. 50,500/ton for Hyderabad on an ex-works basis, respectively.

Flat Steel Demand and Supply:

In March 2025, India's demand for hot-rolled coils (HRC) is driven by a projected 8-9% growth in steel demand, fuelled by ongoing infrastructure and housing projects like the Pradhan Mantri Awas Yojana and Gati Shakti Master Plan. However, the market faces challenges due to a surge in imports from China, South Korea, and Japan, which has affected domestic producers, especially smaller mills. To counter this, the Indian government is considering imposing safeguard duties of 15-25% on steel imports to protect local manufacturers and stabilize the market.

Flat Steel News:

Export prices of hot-rolled coil (HRC) prices have remained stable, while low-priced deals in the Middle East are helping sustain trade activity. Despite the steady pricing from India, competitive pricing in the Middle Eastern markets continues to attract buyers, ensuring a flow of transactions. This has allowed trade to remain active, despite challenges in global pricing dynamics.

Expert Opinion:

• As of March 2025, India's steel market shows both growth potential and significant challenges, leading to cautious sentiment. Steel production rose by 6% in 2024, with continued market expansion expected, driven by sectors like construction and automotive. However, increased imports from China, South Korea, and Japan are causing concerns for domestic producers.
• Regulatory changes, such as restrictions on metallurgical coke imports, and global trade tensions, including U.S. tariffs, are also affecting the market. Despite positive growth prospects, these factors contribute to a more reserved outlook for the industry.