India’s Flat Steel Market: Growth Continues Amid Import Challenges
The Indian flat steel market is witnessing strong demand, with a projected growth rate of 8-9% in 2025, driven by infrastructure, housing, and engineering sectors. However, rising imports from China and other countries pose a challenge to domestic producers. While domestic prices remain stable in most regions, global HRC prices are under pressure. The industry remains optimistic but cautious.
Key Takeaways
- Stable Domestic Prices: No major price changes in HRC and CRC across key Indian markets.
- Strong Market Growth: Flat steel demand in India is expected to grow by 8-9% in 2025, following an 11% increase in 2024.
- Imports Creating Challenges: Rising steel imports, particularly from China, are impacting competition and domestic investments.
- Global HRC Market Uncertainty: Weak demand and trade policy changes are putting pressure on international flat steel prices.
- Regulatory Changes in Focus: Government measures, including potential safeguard duties and anti-dumping actions, aim to protect domestic steelmakers.
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:
- Location HRC CRC PM PLATE
- NCR 49500 55500 50000
- Mumbai 50000 57000 50500
- Ahmedabad 51000 57000 51500
- Chennai 51000 59500 51500
- Kolkata 48000 53500 52500
- Hyderabad 50000 60000 50500
- Note: HRC= Grade: E250 BR, Size 2.5-8.0mm and CRC= Grade: IS513, Size 0.80-2.00mm
Flat Steel Demand and Supply:
- India's mild steel market is showing strong demand heading into March 2025, with a projected growth of 8-9% in 2025, driven by increased activity in construction, housing, and infrastructure. Demand from industries such as engineering and packaging is also rising, with 2024 demand estimated to have grown by 11%.
- However, concerns over rising imports, especially from China, may impact fair competition and domestic investments. The government is addressing these challenges with anti-dumping measures and potential safeguard duties. Overall, the outlook for the mild steel market remains positive.
Flat Steel News
- The global HRC (hot-rolled coil) market is facing significant pressure as a result of shifting policies and weak demand. The combination of changes in trade regulations, production adjustments, and a slower pace of consumption is contributing to the strain in the market.
- Prices are being impacted by this uncertainty, with many regions experiencing fluctuations. Manufacturers and traders are adjusting to the evolving landscape, but the outlook remains uncertain as global economic conditions continue to influence the market dynamics.
Expert Opinion:
- As of March 2025, India's steel market shows both growth potential and significant challenges, leading to cautious sentiment. Steel production rose by 6% in 2024, with continued market expansion expected, driven by sectors like construction and automotive. However, increased imports from China, South Korea, and Japan are causing concerns for domestic producers.
- Regulatory changes, such as restrictions on metallurgical coke imports, and global trade tensions, including upcoming U.S. tariffs, are also affecting the market. Despite positive growth prospects, these factors contribute to a more reserved outlook for the industry.