Daily Market Report

The structural steel market maintains a firm tone, with the secondary segment leading due to tight supply and strong demand for channels and angles. Primary mills remain cautiously optimistic, awaiting mid-November pricing cues. Stockists are actively replenishing inventories in the West and South, while trade liquidity has improved post-festive season across major hubs.

Steel prices remain stable across major hubs despite weak post-monsoon demand. Distributors are managing inventory cautiously, while mills are calibrating production to prevent oversupply. With India emerging as a net steel exporter and new investments under the PLI scheme gaining traction, the medium-term demand outlook — especially for TMT — appears increasingly positive.

HRC and CRC prices across key Indian markets remain largely steady, with marginal day-to-day movements reflecting local factors. Demand is stable but cautious as mills manage supply through maintenance shutdowns and reduced imports. Tata Steel's Q2FY'26 performance highlights resilience in the sector despite cost pressures. Near-term pricing sentiment remains cautious, with limited upside given mixed market signals.

TMT bar prices remained stable this week across all key regions, with trading activity subdued due to seasonal slowdown. While short-term demand remains weak, long-term fundamentals are supported by infrastructure investments and government-led steel capacity expansion. Market sentiment is cautious yet balanced, with post-monsoon construction expected to lift demand.

India’s structural steel market remained steady to firm in early November 2025, supported by improved liquidity and steady post-festive demand. Primary mills maintained current price levels, though an upward revision of ₹200–₹300/MT is anticipated in the coming week if buying momentum holds. Secondary markets, especially in Raipur, Durgapur, and Mandi Gobindgarh, showed a bullish tone with tight supply in small channels and equal angles amid strong fabrication demand. Stock replenishment continued moderately in western and southern regions, while trade in the east and NCR stayed cautious due to fund rotation issues.

India’s flat steel market remains steady, with no major changes in HRC and CRC prices across key cities. Demand is stable but cautious, supported by infrastructure and housing projects. While imports and maintenance shutdowns influence supply, mills may adjust output to balance weak demand and maintain pricing stability.

India’s steel market continues to face pressure from oversupply and muted trade sentiment, with both flat and long products extending losses through October. While post-festive demand could offer short-term relief, structural challenges such as inventory overhang and global surplus are expected to keep prices subdued in the coming quarter.

TMT bar prices across major regions - Mumbai, Delhi NCR, and Vizag - remained steady amid continued demand weakness and sufficient inventory. Despite subdued construction activity and raw material constraints, manufacturers are maintaining price stability. Market sentiment remains cautious, though medium-term prospects hinge on infrastructure and housing demand recovery.

Channel steel prices held steady across primary and secondary markets, supported by strong fabrication demand and low stock levels. Secondary markets showed a bullish undertone, while primary mills signaled possible price revisions post-20th October. Distributors maintained moderate replenishment, and firm downstream activity supported overall market sentiment ahead of the festive period.

Flat steel prices remained largely unchanged across key Indian markets. Weak domestic demand, inventory pressures, and cautious production by smaller mills keep HRC under stress. Exports hit a 1.5-year high in September, driven by EU and Middle East shipments. Market sentiment remains cautious amid policy uncertainty and potential safeguard duties.

TMT bar prices remained largely stable with a mild upward trend across regions. Improved post-monsoon demand and festive season buying are driving gradual recovery. Primary mills announced a ₹1,000/ton price hike, supported by healthy distributor inventories and stable supply. The sector also saw key policy and sustainability developments.

Channel steel prices remained steady this week, with the secondary market showing renewed firmness post-monsoon. Primary mills maintained base levels amid cautious trading. Tight supply in Raipur and Mandi Gobindgarh supports a mildly bullish near-term outlook. Buyers are advised to secure short-term needs before potential price increases mid-October.