- Market stagnates amid sluggish end-user activity
- Imports surge in Jul’25, additional volumes expected
India’s hot-rolled (HR) plate (IS2062, Gr E250 Br, 20-40 mm) prices remained stable 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 500/t w-o-w to INR 50,500-51,000 /t exy-Mumbai. Prices exclude 18% GST.
Market overview
Trade market remains stagnant: Slow momentum in end-user segments, infrastructure, automobiles, and housing, in the past few months has weighed on procurement volumes from the segments. Due to a stagnant market, prices have not fallen further.
Imports surge in July: As of 12 July 2025, HR plate imports reached 21,745 t, indicating a sharp rebound from previous months. In comparison, import volumes stood at just 2,469 t in June and 14,672 t in May, according to vessel line-up data from BigMint.
Based on current vessel line-up data from BigMint, an additional 2,387 t are also projected to arrive in July.
Auto retail update: According to data from the Federation of Automobile Dealers Associations (FADA), tractor sales in June 2025 rose by 7% m-o-m to 77,214 units in June compared to 71,214 units in May. During the same period, commercial vehicle (CV) sales registered a marginal 1% increase, to 81,518 units from 81,325 units in the previous month, indicating a stable but cautious market recovery.
Chinese heavy plate export offers rise: As of 16 July 2025, export offers for Chinese SS400 heavy plates increased by $5/t w-o-w to $480/t FOB China from the previous week’s $475/t.
Outlook
HR plate prices are expected to remain range-bound amid weak end-user demand and cautious buying. Higher imports and falling HRC prices may add downward pressure, though any sharp correction appears unlikely without a significant demand trigger.
Leave a Reply