Indian Coated Flat Steel: Soft Demand, Prices Ease on Cautious Buying

Indian Coated Flat Steel: Soft Demand, Prices Ease on Cautious Buying

The coated flat steel market (GP/GI/PPGI/PPGL) is under pressure as downstream demand stays soft and buyers delay restocking. Mills and service centers report slower offtake and tighter negotiations.

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Demand & End-Use Pulse

• Construction & Roofing: Monsoon overhang and cautious project pacing temper orders.
  
  

• Appliances & Consumer Durables: Mixed; replacement demand is steady but fresh orders are deliberate.
  
  

• PEBs/Fabrication: Inquiry flow continues, but conversions are slower amid cost checks.

Pricing Trend

Mills face downward pressure and higher discount requests. Transaction levels are increasingly deal-driven rather than list-price led, with small-lot buyers bargaining harder.

Raw Materials & Spreads

Base steel and zinc moves are being monitored closely. Margins remain sensitive to zinc volatility and freight, influencing offer discipline from mills.

Near-Term Outlook

• Base case: Sideways to mildly soft pricing until festive/post-monsoon demand shows up in firm orders.

• Upside triggers: Visible pickup in roofing/PEB bookings, appliance OEM schedules, and stable zinc.

• Downside risks: Heavier import arrivals, weaker construction momentum, renewed input cost spikes.