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India: Primary mills increase HRC, CRC list prices for early-Jan

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BigMint Bureau

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5 Jan 2026, 12:55 IST

India: Primary mills increase HRC, CRC list prices for early-Jan

Mills push prices on rising demand

Bullish sentiment supports further upside

Leading Indian steelmakers have raised list prices of hot-rolled coil (HRC) and cold-rolled coil (CRC) by INR 1,000-2000/tonnes (t) ($11-22/t) on 3 January 2026 after increasing them by 750-1,000/t ($8-11/t) in late-December.

List prices of HRCs (2.5-8 mm, IS2062, Gr E250 Br) ranged within INR 50,250-51,250/t ($558-569/t) ex-Mumbai. CRCs (0.9 mm, IS513 CR1) were listed at INR 56,700-58,500/t ($630-650/t).

BigMint's benchmark assessment (bi-weekly) for HRC (IS2062, Gr E250, 2.5-8 mm/CTL) climbed steeply by INR 2,000/t ($22/t) w-o-w to INR 51,000/t ($566/t) on 2 January 2026 against INR 49,000 ($544/t) on 26 December.

Additionally, CRC (IS513, Gr O, 0.9 mm/CTL) prices increased by INR 1,900/t ($21/t) w-o-w to INR 57,600/t ($639/t) on 2 January against INR 55,700/t ($618/t) last week. These prices are ex-Mumbai for the distributor-to-dealer segment and exclude 18% GST.

M-o-m, trade-level HRC prices saw a steep rise of INR 3,900/t ($43/t) to INR 51,000/t ($566/t) in January 2026 compared with INR 47,100/t ($523/t) in December 2025. However, CRC prices spiked by INR 3,100/t ($34/t) to INR 57,600/t ($639/t), up from INR 54,500/t ($605/t) in the same period.

Market update

India's HRC and CRC trade markets continued to move decisively higher, with sentiment increasingly tilting in favour of further price upside. Market participants said recent mill price hikes announced last month have been largely absorbed, encouraging mills to test additional increases.

One trader in north notes that ''there has been some asymmetric tightness in supply recently despite overall availability remaining adequate''.

Adding to the momentum, the staggered safeguard duty announcement at end-December has bolstered market confidence by reinforcing expectations of curbs on cheaper imports.

Participants believe trade activity is likely to remain firm in the near term, with sentiment supported by reduced import pressure.

Outlook

Looking ahead, the trade market is expected to stay firm, supported by safeguard-led import curbs and positive sentiment, while market participants closely watch how prices and demand evolve.