- Trade offers climb amid tighter spot availability
- Buyers increase coverage on immediate requirements
India’s hot-rolled coil (HRC) market strengthened further during the week ended 25 August 2026, with trade-level prices increasing by around INR 100-600/t across key markets. Buying activity remained cautious, while trade-level offers were reported in the range of INR 56,500-59,500/t ($592-624/t).
BigMint’s bi-weekly benchmark assessment for HRC (IS2062, Grade E250, 2.5-8 mm/CTL) increased by INR 1,100/t w-o-w to INR 59,400/t ($623/t) ex-Mumbai as of 25 August 2026, from INR 58,300/t ($611/t) on 18 August.
CRC prices also increased by INR 1,100/t over the same period, rising to INR 66,500/t ex-Mumbai as of 25 August from INR 65,400/t on 18 August.
Market Update
Major domestic steel mills have increased HRC and CRC prices by around INR 500-750/t across regions, providing a clear upward push to market prices. Following the mill price revisions, trade-level HRC offers have also increased, with sellers revising prices higher in line with elevated replacement costs.
Demand has also improved marginally across the market, with buyers showing increased interest in fresh bookings and replenishment. At the same time, relatively constrained spot availability across select grades and thicknesses has supported the price increase and made sellers more aggressive on offers.
A market participant said, “Buying activity has improved slightly, with demand picking up across the market amid expectations of further price increases.” However, buyers continue to remain cautious on larger-volume purchases and are largely covering immediate requirements.
Overall, higher mill prices, improved demand and tighter spot availability have pushed HRC prices higher. Market sentiment has turned positive, with trade indications suggesting further upside in the near term if buying activity and supply constraints persist.
Imports and Exports
India’s bulk HRC imports stood at 301,131 t as of 21 August, with a further 187,909 t expected to arrive by the end of the first week of September.
India’s bulk HRC exports stood at 367,994 t as of 21 August, with an additional 126,059 t expected to arrive by the start of September. Export offers showed divergent trends across key destinations.
Outlook
HRC and CRC prices are expected to increase by around INR 1,000-1,500/t over the coming month, with the near-term market outlook remaining bullish.
The anticipated price movement is primarily driven by expectations of improved demand in the coming weeks, which could support trade-level prices as buying activity picks up. Higher raw material and operating costs are also expected to exert further upward pressure on mill pricing.
With recent mill price increases, relatively constrained spot availability and expectations of stronger demand, market participants are likely to maintain a positive price outlook. The pace of the increase, however, will depend on the extent of demand improvement and the ability of buyers to absorb higher price levels.
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