- HRC trade prices dip amid weak demand
- High inventories keep market under pressure
Trade-level prices of hot-rolled coils (HRCs) in India fell on 2 December amid soft market sentiment. Prices declined in some markets, while other regions recorded range-bound trends. HRC prices stood at between INR 45,500-47,600/tonne (t) ($506-529/t) across regions. Cold-rolled coil (CRC) prices ranged between INR 51,000-55,300/t ($567-615/t).
BigMint’s benchmark assessment (bi-weekly) for HRCs (IS2062, Gr E250, 2.5-8 mm/CTL) fell by INR 400/t ($4/t) w-o-w to INR 45,800/t ($509/t) on Tuesday against INR 46,200 ($513/t) on 25 November 2025.
CRC (IS513, Gr O, 0.9 mm/CTL) prices declined marginally by INR 300/t ($3/t) w-o-w to INR 54,000/t ($600/t) on Tuesday against INR 54,300/t ($603/t) the week before. These prices are ex-Mumbai for the distributor-to-dealer segment and exclude 18% GST.
Market updates
The domestic HRC market remains sluggish, with prices edging lower this week amid minimal signs of recovery. Market participants highlight that “abundant inventories continue to suppress demand, preventing any meaningful uptick”. Additionally, buyers are holding back as they await mills’ upcoming price announcements.
Import volumes: India’s bulk imports of HRCs touched 260,212 t in November 2025, based on vessel line-up data. Around 113,056 t of additional cargoes are expected by early December.
Export volumes: India’s bulk exports of HRCs touched 373,986 t in November 2025, and around 41,715 t of additional cargo are in transit.
Outlook
HRC prices are likely to remain under pressure next week as muted demand, high inventories and cash-flow constraints limit buying activity. Market participants are waiting for mill announcements before taking fresh positions.
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