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India’s coated flat steel market recorded a week-on-week price increase on December 24 across key products galvanised plain (GP) coil, pre-painted galvanised iron (PPGI) and bare galvalume (BGL) even as underlying demand remained muted.
Market sentiment improved modestly, prompting cautious and limited restocking by buyers rather than broad-based procurement. Participants indicated that the price rise was supported by upstream cost pressures, with GP coil pricing described as strengthening amid a sharp rise in hot-rolled coil (HRC) and coking coal prices.
Despite the uptick, the market narrative remains mixed: demand is described as yet to recover, suggesting that the current rise is being driven more by cost-push and expectations than by a clear improvement in end-user consumption.
Some buyers are reportedly advancing purchases to avoid potentially higher replacement costs in January 2026, while others remain selective due to uncertain offtake. Overall, the near-term outlook reflects a balancing act firmer prices supported by raw-material dynamics and sentiment, but constrained by slow demand and cautious buying behaviour.
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