The Indian market for coated flat steel has exhibited varied results; the price of GP has increased while PPGI and BGL remain somewhat stable. The increase in GP price has been attributed to selective buying and the effect of earlier mill price increases, indicating slightly improved sentiment. However, overall demand remains cautious, and many buyers are still taking a wait-and-see approach due to elevated price levels. Demand from end-users has remained subdued; therefore, slow trading has limited any strong upward movement, resulting in prices remaining relatively stable across all regions.

Outlook:

In the near future, prices are expected to remain firm due to mill-side upward pressures, although the upside potential will depend on an increase in actual demand. Most market participants believe that there will be much more clarity regarding pricing after mid-January, after which time, the new price levels will have been tested and accepted by buyers in the market. Until that time, cautious purchasing and patchy regional demand should limit any significant price movements, creating a stable-to-range-bound outlook for now.