Flat Steel Prices Remain Unchanged Across Major Cities, Export Challenges Persist

Flat Steel Prices

Markets reported no changes in HRC as compared to the previous day.

The prices for major locations are listed below:

The HRC offers are below:

• Ex-NCR/Delhi: Rs. 52,000/ton
• Ex-Mumbai: Rs. 52,300/ton
• Ex-Ahmedabad: Rs. 53,000/ton
• Ex-Chennai: Rs. 52,500/ton
• Ex-Kolkata: Rs. 51,500/ton
• Ex-Hyderabad: Rs. 51,800/ton

The CRC offers are below:

• Ex-NCR/Delhi: Rs. 58,000/ton
• Ex-Mumbai: Rs. 61,000/ton
• Ex-Ahmedabad: Rs. 62,500/ton
• Ex-Chennai: Rs. 62,500/ton
• Ex-Kolkata: Rs. 60,000/ton
• Ex-Hyderabad: Rs. 62,000/ton

PM Plates prices for Delhi NCR stand at around Rs. 57,500/ton and Rs. 56,700/ton for Mumbai on an ex-works basis, respectively.

Flat Steel Demand and Supply

The Indian steel industry witnessed a revival in raw material demand during the latter part of August, signaling a continued upward trajectory in September, as monsoon-induced supply chain disruptions subside. Nevertheless, ample inventory levels will likely control demand growth, maintaining a supply-demand equilibrium. Steel mills are fine-tuning production schedules, informed by recent market trends and supply-side dynamics, ensuring a seamless and balanced supply chain. Healthy inventory buffers and stable production volumes will enable mills to meet customer demand without significant interruptions.

Flat Steel News

• Indian steel mills hold export prices amid weak global market sentiment

• Indian steel mills have held hot-rolled coil export offers to Southeast Asia and the Middle East for two months (July-August). The outlook for September remains weak due to global market sentiments and Chinese pricing competition. Export offers to Europe have been slow to recover, with no major deals in August. However, demand in Europe is expected to pick up in September. Overall, Indian steel mills face a challenging export market. Global demand and pricing pressures continue to impact export prospects.

Expert Opinion

Indian steel mills have maintained a stable pricing stance, with no indications of a rate cut in the local trade market. The demand and supply dynamics suggest a balanced market equilibrium, characterized by stable production volumes and minimal disruptions to customer deliveries. As a result, steel prices are expected to remain firm in the near term, with no anticipated fluctuations or surprises. The market demand trajectory will be a crucial determinant in initiating and sustaining any potential price hikes. Mills are poised to adjust production levels in response to demand trends, ensuring a stable supply chain and price stability.