- Challenges in payment collection affect market liquidity
- Slight supply tightness expected in eastern India
India’s trade-level HRC prices were largely unchanged during the week ended 16 June 2026, with market offers hovering between INR 55,700-59,500/t ($589-629/t). Trading activity remained subdued as weak demand and cautious buying sentiment continued to limit market momentum.
Meanwhile, cold-rolled coil (CRC) trade prices were reported in the range of INR 60,500-68,200/t ($640-721/t) during the week, reflecting weak downstream activity.
BigMint’s bi-weekly benchmark assessment for HRC (IS2062, Gr E250, 2.5-8 mm/CTL) in Mumbai remained unchanged w-o-w at INR 58,300/t ($617/t) as of 16 June. Likewise, the benchmark assessment for CRC (IS513, Gr O, 0.9 mm/CTL) was steady at INR 65,200/t ($690/t). All assessments are ex-Mumbai and exclude 18% GST.
Market updates
India’s trade-level HRC market continued to exhibit stable pricing this week, as weak demand and limited purchasing activity persisted. Moreover, ongoing challenges in payment collection affected trade liquidity.
In northern India, trading activity was subdued, although a few deals were heard concluded. Meanwhile, eastern India witnessed a slight softening in HRC prices, primarily driven by weak demand and cautious procurement activity. Market sentiment remained guarded as buyers refrained from restocking and focused primarily on meeting near-term demand.
Sources indicated that “an eastern India-based mill is likely to remain under maintenance for the next one to two weeks,” which may limit supply slightly in the region. However, the absence of strong consumption trends continued to offset any supply-side support, keeping prices largely stable and encouraging participants to adopt a wait-and-watch approach.
Additional updates
Import volumes: India’s bulk imports of HRCs touched 125,919 t as on 12 June. Around 143,584 t of additional cargoes are expected by mid-July.
Export volumes: India’s bulk exports of HRCs touched 61,076 t as of 12 June. Around 56,000 t of additional cargoes are expected to be shipped.
Outlook
The Indian HRC market is likely to witness limited movement in the near term, as seasonal demand weakness during the monsoon period continues to weigh on steel consumption. Although maintenance shutdowns at selected mills may tighten supply availability, the impact is expected to be largely offset by cautious buying and subdued end-user demand. Consequently, prices are expected to remain largely stable, with market sentiment dependent on any signs of demand revival.
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