Flat Steel Prices Stable Amid Strong Demand and Import Pressure
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Flat steel prices remained unchanged across major markets, with demand growing at 8-9% due to infrastructure and housing projects. However, Chinese imports continue to put pressure on domestic prices, leading to potential government intervention. Experts predict steady demand but warn that shifts in raw material costs or policy changes could impact market stability.
Key Takeaways
- Stable Domestic Prices: No major changes reported in HRC and CRC prices across key markets, despite global volatility.
- Strong Demand Growth: The mild steel market is expanding at 8-9%, driven by infrastructure and construction projects.
- Import Pressure Continues: Chinese steel imports are suppressing domestic prices, prompting the government to consider a safeguard duty.
- Stable Export Offers: Indian HRC export prices remained unchanged despite global competition and aggressive pricing from Chinese suppliers.
- Cautiously Optimistic Market: Demand remains consistent, but market stability depends on raw material costs and potential policy shifts.
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:
- As of February 2025, India's mild steel market is experiencing strong demand, with growth projected at 8-9% due to increased infrastructure projects and steel-intensive construction in the housing sector. However, supply is facing challenges as imports, especially from China, have driven down domestic steel prices and led to production cutbacks.
- To protect local producers, the government is considering imposing a temporary safeguard duty on these imports. Despite these pressures, the demand for mild steel remains robust, though the market is dealing with price volatility and competition from cheaper imports.
Flat Steel News
India's hot-rolled coil (HRC) export offers have remained stable week-on-week, despite the competitive pricing from Chinese suppliers. While Chinese steel prices are lower, Indian exporters have managed to maintain their offers without significant changes. This stability comes amid ongoing challenges in the global steel market, as Indian mills continue to navigate pressure from international competition. The stability in export offers reflects the resilience of India's steel sector despite price volatility.
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.
Daily Market Report
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