Cold Rolled Coils (IS513) Primary 0.90mm in Delhi

Primary TMT prices remain strong, driven by ongoing supply shortages. Distributors report rising demand and anticipate further price increases. The Indian government may implement stricter import regulations to curb substandard steel imports, particularly from China, which could further impact supply dynamics and maintain upward pressure on domestic steel prices.

Prices for structure have decreased across secondary markets. Raipur, Mandi, Durgapur and Hyderabad prices dropped, while Chennai remained stable. The RINL plant closure has worsened material shortages, particularly for round bars and large sections. Meanwhile, India's steel ministry is planning to intervene in imports of non-standardized steel to ensure quality.

Primar TMT prices have remained strong, with rates in Mumbai and Delhi NCR at Rs. 54,500-55,000/ton, and Rs. 52,500-53,000/ton in Vizag. Material shortages are disrupting supply, and distributors expect further price hikes. Meanwhile, JSW Steel has partnered with BHP and Carbon Clean to advance carbon capture technology in steelmaking to address India’s high emission levels.

Primary TMT prices have remained strong across regions. Distributors are anticipating further price hikes due to material shortages impacting supply and demand. Meanwhile, JSW Steel reported a record crude steel production of 6.77 million tons in Q2 FY25, reflecting a 6% year-over-year increase.

Structure prices have risen in the primary market, with SAIL increasing prices by Rs 2,000/ton, and VSP and JSPL raising theirs by Rs 1,000-2,500/ton. The secondary market remains stable, but a shortage of materials is impacting supply. According to a new report, increased Chinese steel prices may provide relief to Indian manufacturers.

Primary TMT prices increased to Rs. 54,500-55,000/ton in Mumbai and Delhi NCR and Rs. 52,500-53,000/ton in Vizag, as distributors raised rates due to shortages in material supply. With SAIL announcing a price hike of Rs. 500/ton, the market is anticipating further increases in the coming days.

Structure prices have remained strong, with SAIL, VSP, and JSPL increasing rates due to material shortages and higher demand. Secondary market prices are also strong due to increased demand for TMT and limited billet supply. Meanwhile, ArcelorMittal Nippon Steel India's CEO has called for a doubling of customs duty to combat steel dumping from China.

Primary TMT prices surged last week, with Mumbai, Delhi NCR, and Vizag seeing rate hikes. Distributors anticipate further price hikes due to inventory shortages and rising demand. Meanwhile, SAIL partnered with BHP to promote decarbonisation in steelmaking.

Flat steel prices remained stable across major markets, with no changes in HRC and CRC prices. However, demand is expected to rise during the festive season, driven by project activity and China's export restrictions. Price adjustments may follow soon as steelmakers like JSPL have announced increases.