GI Coil 0.80mm in Delhi

The Indian hot-rolled coil (HRC) market is undergoing price revisions due to an oversupply, driven by increased production and softened demand from sectors like automotive and construction. The market is showing signs of stabilizing, with potential for a demand rebound. Industry stakeholders should monitor developments closely to make informed decisions.

Flat steel prices remained stable but demand is shifting. A resurgence in demand from construction and infrastructure is needed, as reduced consumption of Hot Rolled plates is causing a downturn in India. New mining cess laws could increase costs, affecting steel industry margins and competitiveness.

The flat steel market remains stagnant, with no price changes reported for HRC across major locations. Demand uncertainties, particularly in construction and automotive sectors, are contributing to a downturn. As industry participants closely monitor the situation, the reversal of HRC's price premium over rebar raises concerns about future market dynamics.

The flat steel market reported minor price corrections in Hot Rolled Coil (HRC) due to weak demand and increased imports. The construction and automotive sectors face reduced activity, leading to a challenging environment for domestic producers.

Primary TMT prices have remained relatively stable, with distributors increasing prices in various regions. SAIL recently lowered its prices, but demand for the material has slowed in comparison to previous months. The Indian government is considering a temporary tax on Chinese steel imports to counteract the negative impact on local prices and margins.

The structure market saw price hikes in the primary segment, driven by supply challenges and maintenance issues at the IISCO facility. Secondary market prices remain stable, with adequate inventory for standard sizes. Rising steel imports under FTAs pose challenges to the domestic market, as calls for higher tariffs face limitations.

The primary market for steel structures saw price increases this month. However, supply issues are a concern, particularly due to the ongoing maintenance of the IISCO facility, which produces high-demand structures. Meanwhile, the secondary market remains stable for conventional sizes but is facing a decline due to reduced demand and the falling price of iron ore in China.

Primary TMT prices have remained relatively stable across key regions like Mumbai, Delhi, and Vizag, despite price hikes from distributors. Demand in the market is sluggish, with low inquiries and even lower conversion rates, as buyers focus more on negotiating prices than on making purchases. Meanwhile, the Indian government is addressing rising steel imports.

Primary TMT prices remain stable across regions. Despite sufficient supply, demand has remained low, with buyers hesitant to close deals. Distributors are engaging in price negotiations due to high inventory levels. Meanwhile, analysts project higher demand and profitability for steel companies in Q3FY25, driven by cost efficiency and stable input prices.