India’s HRC and plates imports surged 88% y-o-y in 2023 to over 3 mnt from 1.63 mnt in 2022. In comparison, CRC imports rose a modest 9% to 0.36 mnt (0.33 mnt in 2022) in this period. Additional supplies of HRCs tipped the balance, putting pressure on prices. NMDC’s Nagarnar Integrated Steel Plant rolled out its first hot rolled coils on a trial basis in June, last year and made around 60,000 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 160,000 t are expected per month soon enough.
