India: Tier-1 mill hikes flat steel prices by INR 500-1,500/t for Sep’26 on improved demand, rising costs

• HRC and CRC prices rise INR 500/t in September
• Coated steel sees sharper INR 1,500/t hike

A leading Indian steelmaker has raised HRC and CRC prices by INR 500/t and coated steel prices by INR 1,500/t effective 1 September 2026. Including increases implemented during August, the mill’s cumulative price hike since 1 August stands at INR 1,750/t for HRC and CRC and INR 2,000/t for coated steel.

The mill had raised HRC and CRC prices by INR 1,250/t during August, while coated steel prices increased by INR 500/t. The latest revision comes amid improving demand expectations, higher raw material and operating costs, and relatively tighter flat steel availability.

Improving demand supports firmer pricing

Market sentiment has improved with expectations of stronger post-monsoon demand from construction, infrastructure and automotive sectors. While trades remain largely need-based, distributors have started selectively replenishing inventories, providing support to mill offers.

Raw material costs add pressure

Rising raw material and operating costs are also supporting mill’s pricing stand. Higher input costs have increased pressure on producers to protect margins, encouraging them to pass on part of the cost increase through higher flat steel prices.

Supply remains relatively tight

Planned maintenance at major steel mills has reduced spot availability in some markets, further strengthening producers’ pricing power. The combination of controlled supply, improving demand expectations and higher costs has allowed mills to maintain firm prices despite cautious buying.

Coated steel sees sharper Sep’26 uptick

Coated steel prices have seen a comparatively stronger increase in September, with the INR 1,500/t hike accounting for most of the product’s cumulative INR 2,000/t increase since August. The move reflects a stronger push to improve realisations for value-added flat steel products.

Outlook

Flat steel prices are expected to remain firm in the near term, supported by improving post-monsoon demand, higher input costs and supply discipline. However, sustained price gains will depend on the strength of downstream demand and the ability of mills to convert higher list prices into improved trade-level realisations.