[SMM Steel] Indian HRC Prices Hold Steady; European Access and Import Competition Remain in Focus

Published: Oct 08, 2026 16:28 (GMT+8)

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[India Export] Indian HRC prices remained unchanged from yesterday, with offers at 750–760 USD/tonne CFR North Europe and Middle East indications at 620–630 USD/tonne CFR. No fresh firm Indian mill offers were reported to Vietnam, highlighting uneven conditions across export destinations. European deal flow remained slow, with procurement also subject to additional documentation requirements effective from October 1. Importers must declare steel’s country of melt and pour and provide supporting evidence, adding traceability to purchasing considerations alongside quota access. Domestically, HRC held at approximately 664 USD/tonne (64,000 INR/tonne) ex-Mumbai, excluding 18% GST. Official April–September figures show finished-steel consumption increased 7.5% year on year, outpacing production growth of 3.7%, while imports rose 23.8%. The figures point to continued support from domestic demand, alongside persistent competitive pressure from rising imports.

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