- Market struggles with low sales, cash flow issues
- Plate imports plunge 83% m-o-m, 93% y-o-y in Jun
India’s hot-rolled (HR) plate (IS2062, Gr E250 Br, 20-40 mm) prices fell by INR 600/t w-o-w to INR 53,500-56,000/tonne (t) exy-Mumbai on 2 July 2025, amid falling sales. Additionally, prices of hot strip mill (HSM) plates (IS2062, Gr E250 Br, 5-10 mm) fell by INR 300/t w-o-w to INR 51,500-52,500/t exy-Mumbai. Prices exclude 18% GST.
Market overview
Trade market falls: After stability for the entire month, prices in the trade market declined. The market has been plagued by low demand and strained cash flows.
“The market remains notably weak, with prices struggling to find stability amid subdued demand. Persistent demand weakness has exerted downward pressure on prices. Additionally, the early onset of the monsoon has dampened construction activity and disrupted material transportation, further impacting market sentiment and trade volumes,” a market participant observed.
Imports fall m-o-m in Jun’25: Import volumes remained subdued in June 2025, totalling approximately 2,469 t – an 83% decline m-o-m from 14,672 t in May, according to vessel line-up data from BigMint. This also reflects a sharp 93% drop compared to 33,548 t recorded in the same period last year. An estimated 13,163 t of plates are expected to arrive in July 2025.
Global plate export offers stable w-o-w: Export offers for Chinese heavy plates (SS400) remained stable w-o-w at $475/t FOB China.
Outlook
India’s HR plate prices are set to remain under pressure in the near term. Weak sales, low demand, and strained cash flows are driving a declining trend in the trade market. The early monsoon is expected to further dampen demand and disrupt logistics, suggesting continued price instability.
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