- SAIL BSP maintenance creates supply pressure
- Subdued demand, global offers keep prices flat
Trade-level prices of hot-rolled (HR) plates (IS2062, grade E250 Br, 20-40 mm) in India remained stable w-o-w at INR 54,500-57,000/t ex-Mumbai, as per BigMint’s weekly assessment on 7 May 2025. Similarly, prices of hot strip mill (HSM) plates (IS2062, grade E250 Br, 5-10 mm) remained stable w-o-w at INR 52,500/53,500/t ex-Mumbai. Prices are exclusive of 18% GST.
Market overview
Trade market remains stable: The prices remained largely stable with minimal fluctuations due to subdued demand. On the supply side, pressure persisted as SAIL’s Bhilai Steel Plant (BSP) has been undergoing capital maintenance since last month and is expected to remain offline for an additional 10-15 days.
“There is a supply constraint as BSP is under maintenance but the upward movement is restricted as there is hardly any demand. We await the mill price announcement for further clarity,” noted a market participant.
Global plate export offers firm w-o-w: Chinese heavy plate (SS400) export offers remained unchanged w-o-w at $485/t FOB China.
Outlook
Plate prices are expected to remain range-bound in the near term, with limited demand capping any upward movement despite constrained supply from BSP’s ongoing maintenance. Market participants are awaiting mill price announcements for further direction. Global export offers remain firm, providing no trigger for any price shifts.
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