- Prices firm on improved trade sentiment
- FY-end procurement to support demand
Indian coated flat steel prices increased w-o-w on 05 January 2026, supported by price hikes announced by major mills for February deliveries. Mills raised coated flat steel prices by around INR 1,700-2,300/t, which was gradually reflected in market offers across regions. The price revision provided strong cost-side support and improved market sentiment, leading traders and distributors to realign prices upward.
Following the hike, trading activity showed signs of improvement, with market participants reporting better enquiry levels and renewed buying interest. While procurement remained need-based in some regions, the overall market momentum turned positive, backed by expectations of continued price support from mills and stable downstream demand.
As per the latest assessment, galvanised plain (GP) coil prices were assessed at INR 68,900/t ($763/t) exy-Mumbai, marking a w-o-w increase of INR 1,400/t($15/t). Market offers were largely reported in the range of INR 68,500-69,500/t ($759/t), supported by firm mill prices and improved trade sentiment.
Pre-painted galvanised iron (PPGI) prices were assessed at INR 77,000/t ($853/t) ex-Mumbai, up by INR 1,900/t ($21/t) w-o-w. Offers were mostly heard in the range of INR 76,500-77,500/t ($847-858/t), with prices gaining on the back of higher mill offers and selective restocking by buyers.
Meanwhile, galvalume (BGL) prices stood at INR 79,000/t ($875/t) ex-Mumbai, registering a w-o-w rise of INR 500/t ($5/t). Market offers were reported in the range of INR 78,500-79,500/t ($869-880/t), supported by firm mill pricing, although demand conditions remained mixed across regions.
All prices are exclusive of 18% GST.
Market Updates:
West:
Demand in the western region showed some presence, with coated products continuing to move in the market. Inventory levels were reported at around 20–25 days, indicating no major stock overhang. While some participants noted that demand has not picked up to the expected extent, overall market sentiment remained positive, supported by steady movement and controlled inventory levels.
North:
The northern region witnessed stable demand, with market participants informing BigMint that sentiment remains positive in the near term. Trading activity was reported to be steady, although buying continued to remain selective.
South:
The southern market remained in a wait-and-watch mode during the week. Participants indicated that while demand could improve in the near term, current buying activity was largely need-based, keeping overall trade volumes moderate for now.
Outlook:
Coated flat steel prices are expected to remain firm in the near term, supported by stable trade activity and controlled inventory levels. Demand is likely to improve gradually as the financial year-end approaches, with procurement expected to pick up to meet project execution deadlines. Overall market sentiment is expected to stay positive, with limited downside risk.
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