- BigMint’s benchmark HRC prices drop by INR 300/t w-o-w
- Weak demand, high inventories weigh on market sentiment
Trade-level prices of hot-rolled coils (HRCs) in India fell w-o-w to INR 48,100-50,300/t ($546-571/t). Moreover, cold-rolled coil (CRC) prices showed a downtrend w-o-w, with prices ranging between INR 54,800-59,000/t ($622-670/t).
BigMint’s benchmark assessment (bi-weekly) for HRCs (IS2062, Gr E250, 2.5-8 mm/CTL) decreased by INR 300/t ($3/t) w-o-w to INR 49,200/t ($559/t) on 16 September 2025 against INR 49,500/t ($562/t) on 9 September 2025. Similarly, CRC (IS513, Gr O, 0.9 mm/CTL) prices declined by INR 400/t ($5/t) w-o-w to INR 56,100/t ($637/t) on Tuesday against INR 56,500/t ($642/t) a week ago. These prices are ex-Mumbai for the distributor-to-dealer segment and exclude 18% GST.
Market updates
Indian HRC market slows down: Indian HRC market sentiment stayed muted as “sluggish demand, oversupply and ample inventories pressured prices”, a market participant informed Bigmint. Participants noted that heavy stocks and thin margins kept trading slow, while the expected pickup in demand has not yet materialized, leaving overall sentiment cautious.
Import volumes: India’s bulk imports of HRCs touched 209,072 t as of 13 September, based on vessel line-up data. Around 166,872 t of additional cargoes are expected by the end-August.
Export volumes: India’s bulk exports of HRCs touched 100,523 t as of 13 September and around 19,513 t of additional cargo are being shipped.
Outlook
The HRC market is likely to remain range-bound this week, with trading activity subdued amid soft demand. Although a festive-season boost was anticipated, no clear improvement has been seen leaving market participants cautious.
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