- Low demand, early monsoon pressure trades
- Global plate export offers remain stable w-o-w
India’s hot-rolled (HR) plate (IS2062, Gr E250 Br, 20-40 mm) prices remained range-bound w-o-w at INR 53,500-55,500/tonne (t) exy-Mumbai on 9 July 2025, amid falling sales momentum. However, prices of hot strip mill (HSM) plates (IS2062, Gr E250 Br, 5-10 mm) fell by INR 600/t w-o-w to INR 50,500-51,500 /t exy-Mumbai. Prices exclude 18% GST.
Market overview
Market struggles amid persistent low demand: The market is currently experiencing significant weakness, with demand consistently low and prices failing to stabilise.
Adding to these challenges, the early arrival of the monsoon season has negatively affected construction projects. This has not only slowed down building activity but also disrupted the transportation of materials. Both factors have contributed to a decline in overall market confidence and a reduction in the volume of goods being traded.
Imports may remain low in July: As of 5 July, the volume of steel plates imported this month stood at 1,901 tonnes (t). Import volumes in June 2025 were at 2,469 t, an 83% m-o-m decline from 14,672 t recorded in May, as per vessel line-up data from BigMint.
Based on current vessel line-up data from BigMint, total steel plate arrivals for July are projected to reach approximately 6,086 t. This indicates a continued subdued trend in import volumes for the month.
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
Weak demand and monsoon-related disruptions continue to pressure trade activity. With import volumes subdued and global export offers stable, domestic prices are expected to remain largely range-bound in the near term, with limited upward momentum.
Leave a Reply