Indian coated flat steel prices have edged up on a weekly basis due to a hike in mill prices, and along with it, trading activity has also shown a marginal improvement. GP, galvalume, and PPGI all registered gains, supported by supply-side and restocking rather than a broad-based demand revival. The prices of GP, PPGI, and Galvalume were assessed at ₹66,800, ₹74,400, and ₹77,900, respectively, and increased by ₹ 1,000, ₹600, and ₹ 1,400, respectively. Although the cautious buying continued, increased inquiries coming out of the north and south allowed mills to achieve some limited price increases. The West continued to lag with weak trade and little by way of price absorption, suggesting there are some inconsistencies with regional demands.

Outlook:

In the near term, market sentiment is expected to stay cautiously optimistic as normal trading resumes after the holiday-disrupted week. Mills are likely to closely watch how well current prices are absorbed before attempting further hikes, and there will be a possible hike in February. However, upward price movement will depend on a clearer and stronger demand recovery, as buyers remain selective and price-sensitive at elevated levels.