Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
CRC prices decline due to paused auto sector restocking.
Discounted sales emerge amid weak demand.
Market outlook remains cautious pending demand recovery.
Local Indian cold rolled coil (CRC) prices have entered a new downtrend cycle, triggered by a pause in restocking by major consumers such as the automotive sector. The slowdown in demand has led to increased speculation of discounted sales in the market.
Market participants report that the automotive industry's reduced purchasing activity has created a supply overhang, prompting traders to offer CRC at lower prices to stimulate sales. This trend is further exacerbated by the anticipation of continued weak demand in the near term.
Analysts suggest that unless there is a significant uptick in end-user demand, particularly from the automotive and white goods sectors, CRC prices may continue to face downward pressure. The market is closely monitoring inventory levels and consumption patterns to gauge future price movements.
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