Flat Steel Prices Show Minor Changes Across India
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Flat steel prices across various regions of India saw slight fluctuations. Demand remains stable, and the market is balanced. Analysts expect prices to dip briefly before rebounding with new bookings. Notably, India remains a net steel importer from April to August, with imports rising by 25%, while exports dropped 40%.
Flat Steel Price
- Markets reported price changes in HRC & CRC as compared to the previous day. The prices of flat products in various markets are as below: HRC offers
- Ex-NCR/Delhi: Rs. 51,000/ton (Down Rs 1,000)
- Ex-Mumbai: Rs. 51,300/ton (Down Rs 1,000)
- Ex-Ahmedabad: Rs. 51,800/ton (Down Rs 1,200)
- Ex-Chennai: Rs. 51,500/ton (Down Rs 1,000)
- Ex-Kolkata: Rs. 49,800/ton (Down Rs 1,700)
- Ex-Hyderabad: Rs. 51,000/ton (Down Rs 800)
CRC offers
Ex-NCR/Delhi: Rs. 58,000/ton
Ex-Mumbai: Rs. 61,000/ton
Ex-Ahmedabad: Rs. 62,000/ton (Down Rs 500)
Ex-Chennai: Rs. 61,000/ton
Ex-Kolkata: Rs. 59,000/ton (Down Rs 1,000)
Ex-Hyderabad: Rs. 61,000/ton (Down Rs 1,000)
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
- The flat products sector saw steady demand in early September, with mills and service centers reporting stable order flows and consistent production rates. Raw material sourcing and inventory control also remained stable, reflecting a well-balanced market with no indications of supply chain disruptions or demand fluctuations. This equilibrium is favorable for the steel industry, suggesting a seamless and uninterrupted supply chain operation.
Flat Steel News
- India remains net steel importer in Apr-Aug, imports up 25%, exports down 40%.
- In August, India's JSW Steel Limited achieved a 1% increase in its consolidated crude steel production. This modest growth highlights the company’s ongoing capacity expansion and operational efficiency improvements. The rise in output comes as the steel market remains stable, with consistent demand and production levels. JSW Steel’s performance reflects its strategic focus on maintaining steady growth and meeting market needs effectively.
Expert Opinion
- Over the past two days, the steel market has seen a price reduction across all locations. Analysts suggest this trend aligns with the approaching half-yearly financial closure, aiming to clear existing inventories and newly received September materials. Local suppliers and traders remain optimistic, believing that the current price dip may persist until the third or fourth week of the month, with expectations of a price rebound shortly thereafter with the upcoming bookings for the next 2 quarters.
Daily Market Report
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