HR Strip Market Rebounds 7% as Late-March Buying Revives Sentiment

India’s HR Strip market saw a sharp upswing in late March as a brief weekly squeeze disrupted an otherwise subdued monthly trend. Early in the month, firmer bids emerged with mills running steadily, but mid-month sentiment weakened due to corrections and rising inventories at service centres. Late-March buying and distributor repositioning then lifted values, prompting a reassessment of short-term availability. Overall conditions remain delicately balanced between domestic production and incremental import offers, while infrastructure demand and port arrivals are being closely monitored. Steelmakers’ plans to raise coil prices add another layer of momentum to the HR Strip outlook, keeping HR Strip sentiment cautiously firm as HR Strip participants watch April developments.

Demand across key sectors remained uneven, creating a mixed backdrop for Ex-Raipur offers. Automotive and appliance offtake stayed sluggish, leading to stock accumulation at northern service centres, while construction and public infrastructure provided only limited support....