Posted on 22 Oct 2025
Indian hot and cold rolled coil prices have remained flat this week as market activity slowed sharply during the Diwali festive period, Kallanish learns from sources.
“The market has been quiet for the last two to three days because of the Diwali festive week,” a Mumbai-based trader says. Trading is expected to pick up again from Friday once holidays end. The Diwali festive period runs from 17-23 October.
Oversupply, liquidity constraints, subdued demand, festive-related payment delays and temporary labour shortages are keeping near-term sentiment weak. As per one source, some mills are planning short maintenance shutdowns this week to curb output amid the holiday lull.
As of Tuesday, domestic HRC offers are steady week-on-week at INR 47,750-48,250/t ($543-548) ex-Mumbai for IS2062/E250 BR grade.
CRC offers are similarly unchanged w-o-w at INR 55,500-56,000/t ex-Mumbai delivered for IS513 Grade O.
HR plate offers stand flat w-o-w at INR 49,500-50,500/t for E250 or S235 base grades.
Galvanized coil is quoted at INR 60,500-61,500/t for commercial grades (0.8mm+), while colour-coated coil is at INR 68,500-70,500/t.
The import market also remains quiet, with no new HRC offers heard since September due to weak demand, oversupply, higher landed costs and growing trade barriers. The last FTA-based HRC offers were at $505-510/t cfr Mumbai.
“Theoretical” China-origin HRC is assessed at $458/t fob China, or around $482/t cfr Mumbai, under an advance licence. CRC offers are at around $523/t fob, or $547/t cfr Mumbai. Freight from China is estimated at $24/t.
Market participants expect activity to gradually normalise next week, though sentiment may remain cautious amid weak downstream demand and cash flow issues.
Source:Kallanish
