Flat Steel Prices Hold Steady: No Major Changes in HRC and CRC Across Key Markets
Flat steel prices across various markets have shown no significant changes in HRC and CRC. Steel demand is expected to stay steady in the next few days, supported by construction and infrastructure projects, but supply may face challenges due to logistical issues.
Key Takeaways
- Flat Steel Prices Unchanged: No notable changes reported in HRC, CRC, PM Plate, or PPGI across major markets like NCR, Mumbai, and Kolkata.
- Steady Demand Outlook: Steady demand anticipated, with construction projects driving the market, but logistical hurdles may disrupt supply.
- Lower Profits for JSL Limited: Lower profits in H1 FY 2024-25 due to market challenges, but optimism remains for recovery in the latter half.
- Cautious Market Sentiment: Traders remain cautiously optimistic, watching for potential price fluctuations and supply issues as the month progresses.
Flat Steel Prices
- 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:
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
- In the next 10 days, the demand for steel in India is expected to remain steady, driven by ongoing construction projects and infrastructure developments. However, supply may face slight disruptions due to logistical challenges and fluctuations in raw material availability. Market sentiment is cautiously optimistic, with expectations of stable prices as buyers continue to replenish inventories.
- Additionally, seasonal factors could influence demand patterns, especially in the housing sector. Overall, stakeholders are keeping a close watch on market conditions to navigate potential shifts effectively.
Flat Steel News
- JSL Limited reported a decline in net profit for the first half of FY 2024-25, citing fluctuating raw material prices and lower market demand.Despite these hurdles, JSL is focusing on strategic initiatives to enhance operational efficiency and increase production capacity.
Explore more industry updates and steel news here!
Expert Opinion
- The current sentiment in the steel market is cautiously optimistic, with recent price increases suggesting potential upward trends. Although some producers are adjusting their prices, the overall market remains stable. Traders and dealers are closely observing these changes, expecting further fluctuations as the month unfolds.
- Overall, the market is ready for possible shifts driven by demand and strategic pricing actions from major players.