Indian coated flat steel prices were stable this week, as weak demand and tight liquidity have continued to weigh on the market. GP, PPGI, and galvalume prices are following last week’s prices, and mills are not adjusting their offers due to limited buying interest. Buyers across different regions restricted their purchases to their immediate requirements, resulting in limited trade activity and a cautious sentiment. From the western region, despite steady inquiries for GP, the colour-coated (PPGI) demand remains particularly weak due to limited liquidity. The price of PPGI and GP ex-Mumbai was assessed at ₹68500 and ₹60000, respectively. In the northern market, there was sluggish activity, and buyers are waiting until there is a clear opportunity to restock, as most buyers are content to remain within the band's pricing established earlier. Sentiment in the southern region has also weakened further, as many buyers are waiting to see if mills reduce prices in the near term.

The price stability seen this week reflects weak fundamentals rather than support from strong demand. Limited end-user enquiries, tightening liquidity, and cautious behaviour from buyers are the only reasons to sustain any potential rise. Traders observed that there were no clear signs of recovery in demand and that the potential for buyers to receive discounts would remain a turnoff prospect for months. The overall tone of the market remains quiet with slow trade activity across West, North, and South India.

Outlook:

Going forward, coated flat steel prices are expected to remain relatively stable in the short term, as demand across regions continues to be subdued. GP may see steady inquiries, while PPGI and galvalume segments may continue to remain pressured by delayed buying and weak downstream consumption. There are no clear signs of improvement in market sentiments, and trading is expected to remain need-based until either liquidity conditions change or a mill's offer is lower enough to attract a booking.