Flat Steel Prices Remain Steady as Demand Holds Firm

Key Insights

• Price Stability: No significant changes in HRC, CRC, and PM Plate prices across key markets. Prices range from Rs 47,200 to Rs 50,000/mt.
• Demand Growth: India’s steel demand is projected to rise by 8-9% in 2025, driven by construction and infrastructure.
• Import Pressure: Rising steel imports, especially from China, could impact domestic pricing and supply chains.
• Export Trends: Indian HRC exports saw limited movement, with only a few transactions in the Middle East.
• Market Outlook: Steel producers are managing inventory cautiously as trends are expected to remain uncertain amid raw material price fluctuations and global trends.

Flat Steel Price:

• Markets reported no price changes in HRC and 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 (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:

Indian HRC export prices remain stable, with only a few stray deals being signed in the Middle East. Despite some activity, the overall market trend for Indian Hot Rolled Coil (HRC) exports shows little fluctuation. Sellers continue to maintain prices amidst limited demand, with the Middle East market seeing isolated transactions. This stability suggests a cautious approach from exporters as the market dynamics remain relatively unchanged.

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.