Flat Steel Prices Unchanged Amid Declining Domestic Demand
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.