Local Indian cold rolled coil (CRC) prices have remained stable over the past week amid robust growth reported by the automobile industry last month, which has offered support to sentiments, although the upside potential has continued to be limited by the overall sluggishness of the manufacturing sector, SteelOrbis learned from trade and industry circles on Monday, August 3.
Sources said that benchmark 0.9 mm CRC prices are stable at INR 64,200/mt ($673/mt) ex-Mumbai and are unchanged at INR 64,900/mt ($680/mt) ex-Chennai in the south.
According to the sources, the strong sales reported by most passenger car makers in July 2026 are taken as a strong positive for trade sentiments, and this sector is expected to at least maintain restocking levels in the current months.
However, a section of the market maintains a more negative outlook, claiming that demand for raw material is not wide or deep enough to enable current CRC prices to consolidate at higher levels.
“Steady demand from just one sector can sustain prices at current levels. But without a more holistic improvement in demand from the wider manufacturing sector, prices cannot move higher either,” a Mumbai-based distributor said.
“At best, we can be cautiously optimistic that there will not be further losses. But the market will remain conservative in restocking,” he added.
$1 = INR 95.39
