Monthly average trade-level prices of hot-rolled (HR) plates (IS2062, Gr E250 Br, 20-40 mm) remained stable m-o-m at INR 54,500/t in August 2025, as per BigMint’s assessment.
During the week, HR plate (IS2062, Gr E250 Br, 20-40 mm) tags increased margnally by INR 200/t w-o-w to INR 53,500-55,500/t exy-Mumbai on 27 August 2025. Additionally, prices of hot strip mill (HSM) plates (IS2062, Gr E250 Br, 5-10 mm) were up margnally by INR 200/t w-o-w to INR 50,000-51,500 /t exy-Mumbai. Prices exclude 18% GST.
Market overview
Mill prices increase for August’25: All mills had increased their May prices m-o-m by INR 1,000/t from month end prices for July’25. This move pushed up HR plate (IS2062, Gr E250 Br, 20-40 mm) prices, ex-Mumbai to a range of INR 52,550-56,500/t.
Market awaits festive demand: The market had anticipated a pick-up in festive demand, prompting producers to raise prices in the middle of the month. However, buyers resisted higher offers, leading to a marginal correction in prices towards end of month.
“In anticipation of increased demand during the festive season, market participants initially raised prices. However, this strategy was unsuccessful due to strong resistance from buyers who were unwilling to accept the higher costs. Consequently, the expected seasonal demand has not materialized, leaving the market under continued pressure,” a market participant said.
Imports surge in August: India’s imports of steel plates have seen a significant increase in recent months. As of August 23, the country had already imported 47,960 t, a notable rise from 32,988 t in July and a substantial jump from the 2,469 t imported in June.
Based on current vessel line-up data, this trend is set to continue, with an additional 29,390 t of steel plates expected to arrive by the end of August.
Global plate export offers rise: Chinese heavy plate (SS400) export offers stood at a monthly average of $503/t FOB China in 2025, up by $20/t m-o-m from $482/t FOB in July 2025.
Outlook
Indian HR plate prices are expected to remain rangebound in the near term. While attempted price hikes on festive demand expectations, resistance from buyers and rising imports have capped gains. With seasonal demand yet to materialize and global offers trending higher, the market is likely to see only marginal fluctuations rather than sustained upward momentum.
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