Flat Steel Prices Unchanged Amid Declining Domestic Demand
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Flat steel prices, including HRC and CRC, remain unchanged in major locations. However, domestic steel demand is experiencing a sequential decline, creating vulnerabilities in local markets. Experts anticipate stable prices, with a possible rebound in the coming months due to rising international prices.
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. 50,500/ton
- Ex-Mumbai: Rs. 50,500/ton
- Ex-Ahmedabad: Rs. 51,200/ton
- Ex-Chennai: Rs. 51,000/ton
- Ex-Kolkata: Rs. 49,200/ton
- Ex-Hyderabad: Rs. 50,200/ton
CRC offers
Ex-NCR/Delhi: Rs. 58,000/ton
Ex-Mumbai: Rs. 60,700/ton
Ex-Ahmedabad: Rs. 62,000/ton
Ex-Chennai: Rs. 60,700/ton
Ex-Kolkata: Rs. 59,000/ton
Ex-Hyderabad: Rs. 59,800/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 faced a sequential decline, leading to price vulnerabilities in local markets. This downward pressure underscores the urgent need for measures to counteract the impact of imported steel, especially the surge of low-priced imports that jeopardize the competitiveness of local manufacturers. A swift resolution would help stabilize pricing, improve market sentiment, and foster a favorable environment for the growth of the steel industry.
Flat Steel News
- The Indian Steel Association (ISA) has urged the government to increase tariffs on steel imports from 7.5% to 15% to combat a rise of cheaper steel products from China. They also called for the abolition of the "lesser duty rule," which currently limits the import tariff to a level that minimizes harm to domestic producers.
Expert Opinion
- Flat steel prices are anticipated to remain stable at current levels, with the potential for a rebound towards higher price points in the coming months, particularly due to recent price increases in China. This trend could serve as a catalyst for an uptrend in global steel prices.
- Additionally, proactive measures from the Indian government regarding imported steel could further bolster domestic steel prices, creating a more favorable market environment for local producers.
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