- GP,PPGI prices edge up; BGL stable
- Cautious buying persists despite earlier mill hikes
Indian coated flat steel prices remained mixed on 8 January as per BigMint’s assessments, with prices of galvanised plain coil (GP) edging up marginally, while pre-painted galvanised iron (PPGI) and bare galvalume (BGL) prices remained largely stable.
GP prices saw limited upward movement, supported by selective buying and the lingering impact of earlier mill price hikes, indicating a modest improvement in demand sentiment.
Meanwhile, momentum in the PPGI and BGL segments continued to remain slow, as subdued end-user demand and cautious trade activity capped any significant price upside. Market participants noted that buyers are largely adopting a wait-and-watch approach, resulting in range-bound pricing across these segments.
As per the latest assessment on 1 January 2026, GP coil (0.8 mm/CTL, 120 gsm, IS 277) was assessed at INR 65,400/t ($717/t) exy-Mumbai, up by INR 900/t ($10/t) w-o-w. Market offers were largely heard in the range of INR 64,000-65,000/t ($712-723/t).
Galvalume (0.5 mm/CTL, 1,220 mm, AZ150, IS 15961) was assessed at INR 76,500/t ($850/t) exy-Mumbai, stable w-o-w, with market offers largely heard in the range of INR 76,000-77,000/t ($845-856/t).
Meanwhile, PPGI (0.5 mm/CTL, 90 gsm, IS 14246) was assessed at INR 73,500/t ($817/t) ex-Mumbai, up by INR 1,700/t ($19/t) w-o-w, with offers heard in the range of INR 73,000-74,000/t ($812-823/t). Prices are exclusive of 18% GST.
Market Update
West:
The western region continued to witness subdued demand across GP, PPGI, and BGL segments, despite prices moving upward on the back of earlier mill price hikes. Market participants indicated that recent increases are yet to be absorbed, with buyers adopting a cautious approach amid elevated price levels. Demand has remained weak over the past 2-3 days, and participants expect clarity only after mid-January, once new price levels are tested in the market. Overall market momentum remained lacking, even as prices stayed firm.
North:
Northern markets also reported sluggish demand, with participants noting that while prices continue to rise, actual buying interest remains limited. Local markets were described as largely stable, with the uptrend in prices driven more by mill-side increases rather than end-user demand. Market sentiment remained cautious, and participants believe demand needs to improve for the current price levels to sustain meaningfully.
South:
The southern region witnessed a mixed demand scenario. While some market participants reported steady enquiries and marginal improvement in buying interest, others indicated relatively softer demand. Overall, the market remained range-bound, with prices supported but lacking uniform demand momentum across locations.
Outlook
Indian coated flat steel prices remained largely firm in the latest assessments, supported by earlier mill price hikes, though demand momentum across regions stayed subdued. Buying activity continues to be cautious, with recent price increases yet to be fully absorbed by the market.
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