- Prices stable, sentiments remain mixed
- Roofing sector growth to support demand
The Indian coated steel market saw GP (galvanised plain) prices remaining stable, while PPGI (pre-painted galvanised iron) prices recorded an increase in the week ending 14 August 2025. Sentiment, however, was mixed, with some participants pointing to improved activity in certain regions, while others cautioned that prices could come under pressure if demand momentum does not sustain in the coming weeks.
The latest weekly assessment on 14 August showed galvanised plain (GP) coil (0.8 mm/CTL, 120 gsm, IS277) prices at INR 62,500/t ($713/t) exy-Mumbai, with offers ranging between INR 62,000 -63,000/t ($708-719/t).
Meanwhile, pre-painted galvanised (PPGI) (0.5 mm/CTL, 90 gsm, IS14246) was assessed at INR 73,900/t ($843/t) exy-Mumbai, with offers hovering between INR 73,500-74,500/t ($839-850/t). Prices are exclusive of 18% GST. (USD 1 = INR 87.6128) (INR 1 = USD 0.011413857)
Market updates
Coated product prices remained stable w-o-w, but sentiment remains mixed across regions.
A north India-based distributor reported that demand has improved over the past two to three days and may strengthen further after the upcoming festival period.
From the west, a distributor observed that the market is trending downward, with muted buying interest and slower offtake weighing on sentiment.
In the south, a local distributor said inquiries are healthy but pricing remains under pressure due to oversupply and heightened competition.
“While inquiries are good, we may need to consider adjusting the price due to increased competition,” a south India-based distributor said, pointing to the gap between mill offers and actual trade prices.
Demand driver: Roofing industry expansion
India’s roofing sector is entering a growth phase, driven by infrastructure projects, rapid urbanisation, and rising industrial activity. According to Roof India Market Facts, the segment is witnessing increased adoption of advanced roofing technologies such as green roofing, energy-efficient systems, and eco-friendly materials — all of which require galvanised and pre-painted steel for roof and wall cladding.
Growth in construction, new airport and metro projects, tourism-led hospitality expansion, and the proliferation of IT parks are further boosting demand for roofing materials. The metal roofing segment alone, a key consumer of GP and PPGI, is projected to grow at a healthy pace in the coming decade.
This expansion in the roofing market is expected to provide steady downstream support for coated steel demand in the medium to long term, although near-term price movements will remain dependent on immediate trade sentiment and inventory cycles.
Outlook
Coated steel prices are expected to remain largely stable in the near term, with regional sentiment continuing to show divergence. While improved activity in parts of north India and steady inquiries in the south may lend some support, muted buying interest in the west and competitive pressure could cap upward movement.
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