Flat Steel Prices Hold Steady as Market Awaits Clear Direction

Key Takeaways

• Flat Steel Prices: HRC and CRC prices remained unchanged across major locations as market activity stayed slow and cautious.
• Market Demand: India’s flat steel demand is projected to grow 8-9% in 2025, supported by infrastructure and housing projects.
• Import Pressure: Rising steel imports, particularly from China, are adding pressure on local manufacturers, affecting pricing strategies.
• Trading Sentiment: Ex-India HRC prices remain stable as market participants await clear signals before committing to large deals.
• Industry Outlook: Steel producers are maintaining production levels while closely monitoring raw material costs and demand fluctuations.

Flat Steel Price:

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

• Ex-NCR/Delhi: Rs. 47,200/ton
• Ex-Mumbai: Rs. 47,250/ton
• Ex-Ahmedabad: Rs. 48,500/ton
• Ex-Chennai: Rs. 49,500/ton
• Ex-Kolkata: Rs. 46,000/ton
• Ex-Hyderabad: Rs. 48,500/ton

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

• Ex-NCR/Delhi: Rs. 53,000/ton

• Ex-Mumbai: Rs. 57,000/ton

• Ex-Ahmedabad: Rs. 57,000/ton

• Ex-Chennai: Rs. 56,500/ton

• Ex-Kolkata: Rs. 56,000/ton

• Ex-Hyderabad: Rs. 57,000/ton

• PM Plates prices for Kolkata stand at around Rs. 52,500/ton and Rs. 53,500/ton for Hyderabad on an ex-works basis, respectively.

Flat Steel Demand and Supply:

India's steel demand is projected to grow steadily in February 2025, driven by ongoing infrastructure projects, housing development, and government investments. Overall, the market is expected to see an 8-9% demand increase in 2025. While challenges like rising imports, particularly from China, and supply-side constraints persist, strong demand from the construction and infrastructure sectors is expected to support growth. Steelmakers are focusing on enhancing production capacity and efficiency to counter market pressures, including price fluctuations from competitive imports.

Flat Steel News:

Ex-India HRC prices have remained stable due to a lack of significant trading activity in the market. Despite some inquiries, the overall trade remains sluggish, with few deals being concluded. Sellers are maintaining their offers at stable levels, awaiting clearer market direction. Demand remains tepid, and buyers are adopting a cautious approach. The price stability comes as both suppliers and buyers assess the market's next move.

Expert Opinion:

• The sentiment in India’s mild steel plates and coils market is cautiously optimistic, with steady demand from construction, infrastructure, and manufacturing sectors. While there hasn't been a significant surge in demand, consistent consumption is helping maintain market stability. Steel producers are keeping production levels steady, while closely managing inventory due to fluctuations in raw material costs and global market trends.
• Prices are stable at present, but any shifts in raw material costs or demand could impact market conditions. Stakeholders are closely watching the situation for clearer economic indicators.