Indian coated flat steel prices marginally edged up due to improved trading activity, however overall buying remained cautious. It had been seen that GP prices had risen by ₹400 per tonne on a w-o-w basis, to ₹65,800 per tonne, signalling a modest recovery due to restocking and earlier mill-side price hike. On the other hand, PPGI prices increased marginally by prices increased marginally by ₹300 per tonne on a w-o-w basis, to ₹73,800 per tonne.

However, regional parity was seen as trading activity in northern regions was better, but the demand remained weak; however, the market participants are optimistic for the future as they anticipate recovery in demand. In the south, the market was impacted due to the festive season, but they are hopeful that the coming week will provide better clarity on demand and pricing trends.

Outlook:

The Indian coated flat steel market is expected to remain firm in the near term. Buying interest is likely to improve, especially later this week.