India’s HRC Market Faces Short-Term Constraints but Medium-Term Demand Outlook Remains Strong
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Markets reported no price changes in HRC and CRC compared to the previous day in a few geographical locations. India’s HRC demand is expected to remain strong in the medium term, but short-term consumption is limited due to cautious buyer sentiment.
Flat Steel Market Price
Markets reported no price changes in HRC and CRC compared to the previous day in a few geographical locations. The prices of flat products in various markets are as follows:
| Location | HRC | CRC | PM Plate |
|---|---|---|---|
| NCR | 52,500 | 58,500 | 53,000 |
| Mumbai | 50,000 | 59,500 | 51,500 |
| Ahmedabad | 52,000 | 60,500 | 53,500 |
| Chennai | 51,000 | 60,000 | 52,500 |
| Kolkata | 50,000 | 58,500 | 51,500 |
| Hyderabad | 52,000 | 61,000 | 53,000 |
Demand and Supply
- India’s HRC demand is expected to remain strong in the medium term, but short-term consumption is limited due to cautious buyer sentiment.
- Domestic supply faces temporary constraints from production issues and maintenance, though rising imports are helping bridge the gap. However, these imports are also putting pressure on local prices.
- Overall, the market is experiencing localized tightness due to modest output and fluctuating demand.
- Prices may rise in the coming months, particularly if the government imposes stricter import controls or safeguard duties to support domestic mills.
Steel News
HRC export index shows mixed trends w-o-w
- India’s Hot-Rolled Coil (HRC) export index displayed a mixed week-on-week performance, with some markets recording gains while others declined.
- This reflects inconsistent demand across regions. These divergent movements suggest a cautiously balanced export scenario amid global steel market volatility.
Expert Opinion
- The current sentiment in India’s HRC market remains cautious, with weak demand and buyers delaying purchases in anticipation of further price drops. High inventory levels and cheaper imports are pressuring domestic sales, prompting traders to adopt a just-in-time buying approach.
- Supply-side constraints from plant maintenance offer limited support, but their impact is inconsistent. Expectations of safeguard duties or import restrictions have provided some optimism for a price recovery.
- In the short term, the market is likely to remain subdued due to seasonal factors, though policy support and infrastructure demand could drive a rebound.
Hot Rolled Plates
MS Hot Rolled Coils
SS Hot Rolled Coils
Cold Rolled Coils
SS Cold Rolled Coils
GI Coil
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