Hot Rolled Plates (E250 BR) 2.5 - 10mm x 1250mm in Hyderabad

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.

Primary TMT prices remain stable across major markets. Demand is slow as the holiday week approaches. Meanwhile, distributors are facing material shortages due to supply disruptions from SAIL's maintenance. They anticipate further price increases post-festive season.

In the secondary market, stability is being observed in structure prices in Raipur, while other regions, including Mandi, Durgapur, and Hyderabad, have seen declines. Additionally, the Indian government is developing an incentive package to promote green steel production.

In the secondary structure market, stability is being observed except in Raipur, where prices have dropped by Rs 500. The primary market is facing supply challenges, especially with structural steel, as the RINL facility has resumed operations. Meanwhile, China's steel production has risen, indicating global demand trends.

Structural steel prices are on the rise in the primary market due to significant supply shortages. SAIL, VSP, and JSPL have raised prices this month. The secondary market remains stable except for Mandi, where prices have dropped by Rs 300/ton. The reopening of the RINL facility is expected to alleviate some of the supply shortages, particularly in round bars.

Primary TMT prices are still strong across India, Distributors in North, West, and South India have raised prices due to supply shortages and the upcoming maintenance of the SAIL ISP facility in November. Global crude steel production fell by 4.7% in September 2024, with China’s output dropping by 6.1% and India’s by 0.2%.

Primary TMT prices have recently seen an upward trend, with current rates at Rs 54,500–55,000/ton in Mumbai and Delhi. This increase is driven by supply constraints and upcoming maintenance of the ISP facility. The central government has abandoned plans to privatize the Visakhapatnam Steel Plant, focusing instead on its revival with an investment of Rs 1,650 crore.

In the secondary market, structure prices remain stable, but challenges persist in supply, particularly for round bars. The RINL facility's gradual return to operation is expected to alleviate some shortages. Meanwhile, global crude steel production has dropped by 4.7% in September, indicating a broader industry trend.