Flat Steel Prices Hold Steady Amid Stable Demand and Cautious Optimism
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Flat steel prices remain unchanged across most regions, with steady demand driven by infrastructure and housing projects. The market sentiment is cautiously optimistic, though challenges like raw material volatility and environmental disruptions may influence short-term trends.
Key Insights
- Flat Steel Prices: Prices across regions remain stable, with HRC ranging from Rs. 49,200/mt (Kolkata) to Rs. 51,200/mt (Ahmedabad).
- Demand Trends: Strong housing and infrastructure projects support steady steel consumption in November.
- Market Challenges: Smog and logistical hurdles could disrupt production and influence supply chains.
- Cautious Outlook: Experts anticipate steady demand but warn of price fluctuations due to raw material costs.
Flat Steel Prices
- Markets reported no price changes in HRC & CRC as compared to previous day in few geographical locations. The prices of flat products in various markets are as below:
HRC offers
- Ex-NCR/Delhi: Rs. 50,500/ton
- Ex-Mumbai: Rs. 50,500/ton
- Ex-Ahmedabad: Rs. 51,200/ton
- Ex-Chennai: Rs. 51,000/ton
- Ex-Kolkata: Rs. 49,200/ton
- Ex-Hyderabad: Rs. 50,200/ton
CRC offers
Ex-NCR/Delhi: Rs. 58,000/ton
Ex-Mumbai: Rs. 60,700/ton
Ex-Ahmedabad: Rs. 62,000/ton
Ex-Chennai: Rs. 60,700/ton
Ex-Kolkata: Rs. 59,000/ton
Ex-Hyderabad: Rs. 59,800/ton
PM Plates prices for Kolkata stand at around Rs. 55,500/ton and Rs. 55,700/ton for Hyderabad on an ex-works basis, respectively.
Flat Steel Demand and Supply
- Steel demand in India for November 2024 is expected to remain stagnant. The housing market, especially affordable housing, will continue to support steel consumption. Raw material prices, particularly coking coal and iron ore, could influence production costs and steel availability. Despite some logistical challenges and inflationary pressures, the market sentiment is cautiously optimistic, with demand expected to stay stable.
Flat Steel News
- The India Steel Index has faced a decline for the second consecutive week, suggesting a downturn in the market. The ongoing smog in November is expected to keep the market conditions uncertain in the short term, as it could disrupt production and logistics.
- The impact of environmental factors, combined with the current market trends, may continue to influence steel prices. Industry observers are cautious, as the situation remains volatile in the coming weeks.
Expert Opinion
- The steel market sentiment for the next 10 days is expected to be cautiously optimistic. Demand will remain steady, driven by ongoing infrastructure projects and construction activity post-monsoon, as well as stable demand from the automotive and manufacturing sectors.
- Supply chain disruptions and raw material cost volatility could create short-term challenges.
- Overall, the market will stay vigilant amidst these dynamics, balancing steady demand with potential price and supply uncertainties.
Daily Market Report
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