India’s Coated Flat Steel Prices Hit Four-Year High Amid Supply Tightness

India’s coated flat steel market has seen a sharp rise in prices, with benchmark GP coil rates reaching a four-year high as supply constraints and higher production costs put pressure on availability.

According to market assessments, mills have increased prices for coated steel products by ₹1,500–2,000 per tonne. Limited material availability at some mills, coupled with higher transportation and input costs, has supported the latest price increases.

The supply situation has been affected by constraints in gas availability at select production facilities. This has reduced spot availability of certain coated products at a time when demand has remained relatively steady.

The market has also been more resilient compared with other flat steel segments such as hot-rolled coil (HRC) and cold-rolled coil (CRC), where buying activity has remained relatively subdued.

GP coil prices were assessed at ₹76,800 per tonne ex-Mumbai for 0.8 mm material, marking a ₹3,100-per-tonne increase over the previous week. PPGI prices also moved higher, rising ₹3,000 per tonne week-on-week to ₹81,700 per tonne.

Galvalume, or BGL, prices stood at ₹86,000 per tonne, up ₹2,000 per tonne from the previous assessment. The increases reflect a combination of tighter supply, firm mill offers and elevated production and logistics costs.

Demand in the coated segment has remained largely need-based, with buyers continuing to purchase according to immediate consumption requirements. However, stable enquiries from western and northern markets have provided some support to transaction activity.

Market participants expect mills to announce another round of price increases in April, potentially in the range of ₹1,500–2,000 per tonne, if current supply and cost pressures persist.

Raw material movements have been mixed. Domestic zinc prices declined during the assessment period, while HRC and CRC prices recorded weekly gains. Despite the softer zinc market, higher operating and logistics costs continue to influence coated steel pricing.

The near-term direction of the market will depend largely on material availability, gas supply and mill pricing. If supply constraints continue while demand remains stable, coated flat steel prices could remain under upward pressure.