[SMM Steel] Indian HRC Prices Stable, Weak Demand Limits Trades

Published: Jun 30, 2026 11:14

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[India] Indian domestic HRC trade prices stayed stable, at around 601 USD/tonne EXW Mumbai and 617 USD/tonne EXW Chennai. Monsoon-related weak demand kept buyers focused on need-based restocking, while inventories remained high across the supply chain. Mills may raise July base prices by only around 8 USD/tonne. High prices, elevated stocks and rising Chinese finished steel imports are expected to keep the market bearish until late October.

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