Hot Rolled Plates (E250 BR) 12 - 20mm x 1500mm in Rourkela

Flat steel prices remain stable across major cities as demand grows. Despite stable pricing, India continues to be a net steel importer, with imports up 25% from April to August, while exports dropped by 40%. Expert opinion suggests prices could stay steady, but potential government intervention may boost domestic steel prices.

The Indian HRC market shows signs of stabilizing despite an ongoing oversupply caused by increased domestic production and reduced demand. Meanwhile, China's steel exports surged by 21.8% in January-July 2024, with steel imports falling and iron ore imports rising. The market's future hinges on these evolving dynamics.

Flat steel prices remain stable as market participants adopt a wait-and-watch approach. Analysts monitor demand trends post-Diwali, anticipating potential shifts influenced by market sentiment and seasonal factors in the coming weeks.

Primary manufacturers raised prices significantly, with SAIL and VSP leading. RINL’s operational suspension causes shortages, especially in round bars. Secondary market prices rise due to increased demand and limited billet availability, tightening supply across regions.

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.