The hot rolled steel coil price in India is expected to grow steadily for the projected period. The HR coil is a type of steel widely used in pipe-making, machinery, construction, and other consumer sectors. The HR steel price is low in comparison to CR steel, which is mostly used by large-scale companies for the manufacturing of heavy machines, metal equipment for buildings, farming equipment, trailer frames, and more.
Feature that increases its demand in the Indian marketplace
As we know, India is one of the largest consumers and producers of steel worldwide, and the HR coil market plays a major role in the industry. The HR coil is produced by utilizing scrap metal, where steel is rolled at high temperatures above the point where it recrystallizes. As compared to cold-rolled steel coils, the amount of carbon in hot-rolled steel coils is more bearable. Therefore, these coils are more challenging to work with.
Demand, Applications, and Varieties of Hot Rolled Product:
Due to their flat shape, hot-rolled steel products are widely used in different applications and various industries.
- Hot Rolled Sheet: The hot rolled sheets are flat steel sheets produced through the hot rolling process, which have thickenings ranging from a few mm to several mm. They are mainly used in construction, shipbuilding, automotive manufacturing, and general fabrication.
- Hot Rolled Strips: In this type of narrow flat steel product, the width is usually less than 600 mm. These rolled trips are mainly used in the manufacturing of pipes, tubes, and related products.
- HRPO or Hot Rolled Pickled and Oiled Coils: These types of coils undergo an additional process of oiling and pickling, where pickling means removing the surface oxides and impurities, and oiling aims to provide a protective layer that prevents rusting and moisture. They are used in the manufacturing of products that require the best finish and corrosion resistance.
Hot Rolled Coil News:
In the month of January 2023, the Indian mills hiked their hot rolled coil exports due to strong demand from the European market and price hike expectations from Chinese mills, and under the Union budget 2023-24, the Indian government allocated Rs. 70.15 crore to the ministry of steel.
Conclusion:
The hot-rolled steel coil market in India is set for steady growth, driven by its extensive use in construction, machinery, and consumer goods. As a cost-effective alternative to cold-rolled steel, HR coils play a crucial role in India’s steel industry. With rising demand, particularly in exports to Europe, and supportive government policies, the future of HR coils in India looks strong and promising.
The HR coil market in India is set for steady growth, which is driven by its widespread use in construction, machinery, and consumer goods. With a cost-effective alternative to cold-rolled steel, the HR coils play a vital role in India’s steel industry. Apart from that, a platform like CostMasters provides users with the transparency to navigate the complexities of HRC with clarity and confidence.
Source: Market Decipher
