India’s HR Strip market turned firmer in early March **** after a late-February easing in offers, with buying interest resurfacing among mills and traders. Early February showed upward momentum as mills ran near full capacity, mid-month developments shifted the feedstock mix and increased domestic coal flows, and late February brought a pullback as scrap softened and finished-steel availability widened. The early-March bounce reflects a short, technical recovery driven by procurement for flat-steel and continuing infrastructure work, even as broader supply factors keep the market finely balanced going into the new month.
Demand patterns were mixed across end-use sectors, supporting a modest rebound in HR Strip prices. The steel mills and domestic procurement channel remained steady, with ChemAnalyst data noting that mills “ran near full capacity” and that demand channels showed no pullback, helping sellers defend premiums; the HR Strip Ex-Mandi Gobindgarh marker registered at $***.**/MT in February...
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