India’s Flat Steel Market Steadies as Mills Tighten Supply Amid Cautious Demand
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FFlat_Steel_CRC_9_796ffe8eb6.png&w=1920&q=90)
HRC and CRC prices across key Indian markets remain largely steady, with marginal day-to-day movements reflecting local factors. Demand is stable but cautious as mills manage supply through maintenance shutdowns and reduced imports. Tata Steel's Q2FY'26 performance highlights resilience in the sector despite cost pressures. Near-term pricing sentiment remains cautious, with limited upside given mixed market signals.
Key Highlights
- HRC prices range from ₹47,000 (Mumbai) to ₹51,500 (NCR)
- Demand is steady but subdued; mills are controlling supply via planned shutdowns
- Tata Steel reports strong Q2FY'26 results with higher production and deliveries
- Market sentiment remains cautious; upside limited by imports and weak restocking
Regional Flat Steel Prices Across India
Markets reported marginal day-on-day changes in HRC & CRC. Current pricing in major hubs:
| Location | HRC (₹/t) | CRC (₹/t) | PM Plate (₹/t) |
|---|---|---|---|
| NCR | 51,500 | 57,500 | 52,000 |
| Mumbai | 47,000 | 56,000 | 49,500 |
| Ahmedabad | 49,000 | 56,500 | 51,500 |
| Chennai | 49,500 | 59,000 | 51,000 |
| Kolkata | 48,000 | 57,500 | 50,500 |
| Hyderabad | 49,000 | 59,000 | 51,000 |
Demand & Supply: Steady Demand, Managed Supply Keep Market Stable
As of November 2025, India’s HRC market remains balanced:
- Demand is stable but cautious, with buyers avoiding aggressive restocking
- Supply is managed through maintenance shutdowns and reduced import inflows
- Prices remain range-bound, with a mild upside possible if supply tightens further
Steel News: Tata Steel Posts Strong Q2 Performance Despite Cost Pressures
Tata Steel reported strong q-o-q growth in Q2FY’26:
- Crude steel production up 7% to 5.4 mnt
- Sales volumes up 17% to 5.55 mnt
- EBITDA rose 16% to ₹8,394 crore
- Revenue increased 12% to ₹34,680 crore
- Growth driven by a 20% rise in domestic deliveries, despite weaker realisations
- Raw material costs rose 10% due to higher production and rebar purchases from NINL
- Expansion projects progressing steadily:
- 5 mnt/year Kalinganagar expansion
- Ludhiana EAF unit nearing completion
- New cold-rolling and tinplate capacity under development
Expert Opinion: Cautious Market Tone with Limited Near-Term Price Upside
The Indian HRC market in November 2025 shows cautious optimism:
- Supply constraints from mill shutdowns may offer mild upward support
- Buyers remain hesitant, delaying restocking and keeping inventories high
- Imports and mixed demand continue to pressure prices
- Raw material cost escalation is limiting mill-level pricing flexibility
Overall, sentiment remains guarded, with mills navigating soft demand, controlled supply, and uncertain near-term pricing momentum.
Hot Rolled Plates
MS Hot Rolled Coils
Cold Rolled Coils
GI Coil
MS Flats
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FMild_Steel_4_5d99339aab.png&w=750&q=90)
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstainless_steel_4_5c962d3e80.png&w=750&q=90)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FMS_Flats50_x_5_E250_BR_2dbf3c0a50.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FGI_Coil80_GSM_0_80mm_050acad7cb.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FHR_Plate_4c9d03721e.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FCRC_cec6577b20.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Fhot_rolled_steel_coil_roll_o0_Q4an9_600_fe306f6654.jpg&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252Fhttps%25253A%25252F%25252Fnexizo.ai%25252Fassets%25252Fved.png&w=128&q=75)