Flat Steel Prices Unchanged Amid Declining Domestic Demand
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Flat steel prices remain unchanged across most regions. Despite price stability, domestic demand for flat steel has contracted, leading to price vulnerability. This decline comes amid a surge in imports from China, which reached a 7-year high between April and August, fueling concerns over local market competitiveness.
Flat Steel Price
- Markets reported no price changes in HRC & CRC as compared to previous day in few geographical locations. The prices of flat products in various markets are as below: HRC offers
- Ex-NCR/Delhi: Rs. 50,700/ton
- Ex-Mumbai: Rs. 50,700/ton
- Ex-Ahmedabad: Rs. 51,200/ton
- Ex-Chennai: Rs. 51,000/ton
- Ex-Kolkata: Rs. 49,200/ton
- Ex-Hyderabad: Rs. 50,300/ton
CRC offers
Ex-NCR/Delhi: Rs. 58,000/ton
Ex-Mumbai: Rs. 61,000/ton
Ex-Ahmedabad: Rs. 62,000/ton
Ex-Chennai: Rs. 61,000/ton
Ex-Kolkata: Rs. 59,000/ton
Ex-Hyderabad: Rs. 60,000/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
- Domestic steel demand has experienced a sequential decline, creating price vulnerabilities in local markets. This downward pressure highlights the urgent need for measures to mitigate the impact of imported steel, particularly the influx of low-priced imports that threaten the competitiveness of local producers.
- A prompt resolution would help stabilize pricing, enhance market sentiment, and create a conducive environment for the growth of the steel sector.
Flat Steel News
- India's finished steel imports from China reached a 7-year high between April and August, driven by rising demand and competitive pricing. The sharp increase reflects a broader trend of dependence on Chinese steel amid domestic production challenges.
Expert Opinion
- The steel industry can be traced to a slight contraction in demand, which fell short of the expected growth trajectory despite the positive momentum observed in early September.
- Industry insiders indicate that this price decline may represent the lowest point for the month, suggesting a potential turning point for steel prices to stabilize or rebound.
Daily Market Report
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