- HRC prices dip by INR 300/t
- Festive lull slows trade activity
Trade-level prices of hot-rolled coils (HRCs) in India showed a downtrend w-o-w to reach INR 47,000-49,500/tonnes ($529-557/t). Additionally, cold-rolled coil (CRC) prices fell w-o-w, with prices ranging between INR 53,300-57,800/t ($600-651/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 48,000/t ($541/t) on 14 October 2025 against INR 48,300/t ($544/t) on 7 October 2025. Similarly, CRC (IS513, Gr O, 0.9 mm/CTL) prices inched down by INR 200/t ($2/t) w-o-w to INR 55,500/t ($625/t) on Tuesday against INR 55,700/t ($627/t) a week ago. These prices are ex-Mumbai for the distributor-to-dealer segment and exclude 18% GST.
Market updates
Indian HRC trade market slows as demand softens: Steel distributors are seeing low demand, with fewer inquiries and fewer deals being closed, a market participant informed BigMint. In addition to this, trade is slow because demand is weak and the festive season has added to the slowdown. Moreover, market participants believe that “activity will pick up and become clearer after the festivals as this week is expected to stay quiet”.
Import volumes: India’s bulk imports of HRCs touched 149,540 t as of 11 October 2025, based on vessel line-up data. Around 174,813 t of additional cargoes are expected by the end-October.
Export volumes: India’s bulk exports of HRCs touched 233,982 t as of 11 October 2025.
Outlook
The HRC market remains slow amid festive season-induced demand weakness. Moreover, this week’s trade activity is expected to stay limited. However, post-festivities, market activity is likely to stabilise, offering a clearer outlook as participants reassess demand, inventory needs and pricing trends.
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