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Daily Market Report
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Stainless Steel Prices Firm as JSL Hikes by Rs 3/kg and Supply Tightens Across Grades
Stainless steel prices across 200, 300, and 400 series are trending higher due to tightening supply and increased demand, especially in domestic markets. Jindal Stainless Limited raised prices by Rs 3/kg for widths above 1300mm. Meanwhile, scrap buying rates remain high, reflecting bullish sentiment. Price expectations remain firm across all series due to ongoing logistical and regulatory constraints.
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Primary TMT Prices Stay High Despite Weak Market Demand; SAIL Maintenance Tightens Supply
Primary TMT prices are holding firm across major regions despite a noticeable drop in demand. Distributors have raised rates amid limited material availability, especially with SAIL’s DSP unit under maintenance. Inquiry volumes have dropped significantly from March levels, signalling a potential downward correction in prices.
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Stainless Steel Price Trends: Marginal Improvements Amid Supply Constraints
The stainless steel market is seeing gradual demand improvements, especially in the 300 and 400 series, but supply issues continue. Prices for 304 CR and 316L HR material are holding steady, with fluctuations in imported and domestic material pricing. Demand in the 200 series has risen significantly due to limited imports.
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DI Pipe Demand Surges Amid Infrastructure Resumption, Prices Hold Steady
The DI pipe market sees rising demand from infrastructure projects in Maharashtra, Madhya Pradesh, Telangana, and Karnataka as states resume work after receiving partial funds. While supply remains stable and manufacturers are offering bulk orders at discounted rates, prices have yet to rise. However, with project execution ramping up, prices may increase soon.
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Stainless Steel Prices Firm Up as Nickel Surges Over 9% in a Week
The stainless steel market continues to show mixed trends across series, with demand improving and imports facing hurdles. Prices remain steady to firm, particularly in the 200 and 300 series, as global nickel prices rise. Domestic supply remains tight, especially for 300 series, pushing prices upward. Additionally, LME nickel has surged over 9% since last week, countering early speculation about price corrections.
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Structure Steel Market Holds Firm; Demand Stays Strong Amid Supply Concerns
Structural steel prices remain firm across both primary and secondary markets, driven by strong infrastructure execution, robust restocking by fabricators, and full mill order books through mid-May. While primary market prices have seen incremental hikes, secondary prices are also on an upward trend, especially for fast-moving sections. Buyers are advised to act early as mills hint at another round of price hikes by late April.
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Primary TMT Prices Remain Strong as Supply Tightens; Demand May Ease Mid-April
Primary TMT prices continue to rise across regions amid a market shortage and earlier bulk purchases by contractors in March. India’s steel demand is projected to grow by 8–9% in 2025, with infrastructure and housing continuing to lead consumption. While current prices remain high, they may ease as buying activity slows.
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Primary TMT Market Stays Strong; India Leads Steel Demand Despite Global Dip
Primary TMT prices increased across Mumbai, Delhi NCR, and Vizag due to increased distributor rates and strong demand from infrastructure projects. India continues to show strong steel consumption despite a global decline, driven by active tenders and capacity utilization. Rising costs and delayed projects, however, are expected to impact overall steel exports.
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Stainless Steel Rates Firm; 200 Series Sees Strong Domestic Demand
Nickel and copper prices opened significantly higher. Stainless steel prices remain steady with a slight upward trend across key grades. The 200 series continues to see strong domestic demand due to limited imports, while global trade moves—like US tariffs and EU dialogues—are reshaping sourcing strategies. Experts expect prices to remain strong, especially for 300 and 400 series grades.
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German Thermex Technology for Strength & Flexibility
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Optimised Distribution Network for Quick Delivery
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Sustainable & Environment-friendly Processes
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Minimised Bar Congestion for Speedy Construction
About Us
Nestled in the Vidarbha region of Maharashtra, Sangam Steel is one of the biggest integrated reinforcement steel plants in Western Central India, with a wide array of TMT/TMX products to offer. In its relentless pursuit to make the fundamentals of construction as tensile, wieldable, ductile, and hard-wearing as it gets, Sangam Steel makes use of leading-edge machinery and uncompromising quality control practices to deliver top-grade TMT/TMX bars at the best possible price. Having annual production capacity of 600K MT, the plant is also BIS (ISI) certified as per IS 1786:2008, ISO 9001:2015, and ISO 14001:2015, furthering its motto of unifying quality and excellence under one roof, that of Sangam.
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