Steel Market Update

Advisory Bazaar Info Services

Key Highlights:

* Rebar prices rose by ₹800/MT week-on-week, supported by stronger infrastructure demand.

* HRC prices remained stable, backed by export orders and steady OEM demand.

* Firm iron ore, coking coal, and scrap prices continue to support domestic steel prices.

* Planned August maintenance shutdowns and lower inventories are expected to tighten supply.

Market Overview:

Steel demand improved across infrastructure, construction, engineering, and project sectors, resulting in stronger mill order books. While spot buying remains requirement-based, healthy export demand and steady OEM procurement are helping maintain price stability.

Outlook:

The Indian steel market is expected to remain stable to firm in August. Improving demand, tighter supply, declining inventories, and elevated raw material costs are likely to support steel prices, with downside risks appearing limited.