en.Wedoany.com Reported - The monsoon season is expected to dampen demand, while rising import volumes continue to pressure market sentiment. India's major steel producers have kept their June mill list prices unchanged, with both hot-rolled coil and cold-rolled coil prices remaining flat compared to the previous cycle, amid subdued market activity and cautious purchasing sentiment.
Hot-rolled coil list prices (2.5-8 mm, IS2062, Gr E250 Br) currently stand at INR 59,050-61,000/tonne ($617-$637/tonne), ex-Mumbai. Cold-rolled coil prices (0.9 mm, IS513 CR1) are listed at INR 66,400-68,750/tonne ($693-$718/tonne).
At the trade level, May hot-rolled coil prices fell by INR 600/tonne ($7/tonne) month-on-month to INR 58,500/tonne ($611/tonne), down from INR 59,100/tonne ($617/tonne) in April. Cold-rolled coil prices also softened, declining by INR 1,300/tonne ($14/tonne) over the same period to INR 65,200/tonne ($681/tonne), compared to INR 66,500/tonne ($694/tonne) in April.
Coking coal prices rose from $254.9/tonne in April to $263.9/tonne in May, increasing input costs for integrated steel mills. Under normal market conditions, rising coking coal prices would typically support higher flat steel prices. However, weak demand and cautious purchasing sentiment have limited mills' ability to raise prices. Consequently, despite higher raw material costs, major steel mills have opted to keep June flat steel list prices unchanged. Meanwhile, softer iron ore prices have provided some relief, helping to partially offset the rise in coking coal costs.
According to BigMint's shipping data, India's bulk hot-rolled coil (HRC) imports in May 2026 stood at approximately 423,925 tonnes, up 21.5% month-on-month from 348,901 tonnes in April 2026. However, this represents a 51.8% increase year-on-year compared to 279,250 tonnes in May 2025. In May, China, South Korea, and Japan remained the top three HRC exporters to India, shipping approximately 147,417 tonnes, 110,791 tonnes, and 53,681 tonnes, respectively. Additionally, imports from China surged 96% month-on-month in May compared to April. Shipments from South Korea rose 18% month-on-month. However, shipments from Japan fell 39% compared to April. India's bulk HRC exports rose approximately 58% month-on-month in May to 231,749 tonnes, up from 146,721 tonnes in April. This also represents a 60.83% increase year-on-year compared to 144,093 tonnes in May 2025.
The Indian flat steel market is expected to remain range-bound in the near term, weighed down by sluggish demand, rising import arrivals, and cautious purchasing sentiment. The onset of the monsoon season is likely to slow construction and infrastructure activities, which could further dampen trading volumes and steel consumption in key markets. Market participants will closely monitor import trends, post-monsoon demand recovery, and the impact of safeguard measures, as these factors are expected to influence price movements in the coming months.
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