There is excess supply in the market in the face of sluggish demand. NMDC’s Nagarnar Integrated Steel Plant rolled out its first hot rolled coils on trial basis in June last year and made around 80,000 to 100,000 t commercially available per month from November onwards. JSPL too recently commissioned its 5.5-mntpa hot strip mill at Angul from where some consignments were already booked. Around 120,000 t are expected per month soon enough. Flats have seen an injection of 200,000 tonnes over the past month or so while demand has not risen commensurately.
