Weekly Mild Steel Market Report - Apr Week 2, 2026

Weekly Mild Steel Market Report - Apr Week 2, 2026

The Indian Mild Steel market remained broadly stable during Apr 6–12, 2026, with the category average price edging down a marginal -0.22% week-on-week to ₹51,367/MT, even as month-on-month gains of +2.85% confirm an underlying recovery trend. Sponge Pellet was the week's biggest mover, shedding 3.32% to ₹26,200/MT amid easing raw material demand, while Wire Rod bucked the trend with a +1.93% gain. Structural products — Angle, Round Bar, Beam, and Channel — held their ground with zero week-on-week movement, reflecting a post-financial-year-end market that is stabilizing before its next directional move.

Key Highlights

• Category average price: ₹51,367/MT, down -0.22% WoW but up +2.85% MoM, signalling near-term consolidation within a broader recovery.
• Sponge Pellet was the top mover, falling -3.32% WoW to ₹26,200/MT (week high ₹27,500), as raw material selling pressure intensified at Raigarh and Raipur hubs.
• Wire Rod was the lone gainer, rising +1.93% WoW to ₹47,500/MT at Durgapur, with the week touching a high of ₹48,100/MT before easing slightly.
• Secondary TMT slipped -0.18% WoW to ₹54,800/MT; MS Billets fell -0.43% WoW to ₹46,000/MT — both recording the steepest month-on-month recoveries at +5.38% and +4.55% respectively.
• Structural steel (Angle ₹57,300 | Round Bar ₹58,400 | Beam ₹56,600 | Channel ₹55,500) were flat WoW, with mills maintaining firm ask prices post FY-end inventory correction.
• Primary-grade products command a significant premium: Primary brands averaged ₹57,510/MT vs Rerolled at ₹52,971/MT and Unspecified secondary at ₹42,708/MT across the category.

Price Summary

Market Context

The week of Apr 6–12 marks the opening of the new financial year (FY2026-27), a period that historically brings a brief lull in spot buying as procurement teams reset budgets and re-evaluate contracts. This post-FY-end demand pause explains why structural products (Beam, Channel, Angle, Round Bar) traded flat with near-zero intra-week price movement — mills held prices firm rather than risk downward repricing at the start of the fiscal cycle. Infrastructure and industrial offtake is expected to resume momentum as government capex disbursals accelerate through Q1 FY27, supported by the ₹11.2 lakh crore Union Budget infrastructure allocation. On the raw materials side, the sharp correction in Sponge Pellet (-3.32% WoW) reflects a short-term demand-supply mismatch: secondary steel producers in Raipur and Raigarh have been cautious about restocking billets and pellets ahead of confirmed downstream order flow, creating selling pressure at the feedstock level. MS Billets at Jalna and Raipur followed suit, ending the week at ₹46,000/MT and ₹42,500/MT respectively. Globally, international steel benchmarks remain under scrutiny as US tariff policy (25% Section 232 steel tariffs reimposed in early April) continues to redirect Asian steel flows, potentially increasing import competition pressure on Indian flat and long product segments if Chinese mills reroute surplus volumes through South and Southeast Asia.

News This Week

Two key news developments shaped sentiment this week. First, a report on structural steel prices firming up across India (sourced via nexizo.ai, Apr 7) confirmed that improved offtake from infrastructure and industrial buyers, combined with mills deliberately limiting spot supply, is providing a floor for long products. This is directly consistent with our observed price data: Angle (₹57,300/MT), Beam (₹56,600/MT), Channel (₹55,500/MT), and Round Bar (₹58,400/MT) all held flat WoW — not because demand was absent, but because mills exercised pricing discipline at the start of the new fiscal year, choosing stability over volume. The article's mention of 'mild upward bias in the near term' aligns with the MoM gains of +1.78% to +4.13% already recorded across these structural grades. Second, an Indian Stainless Steel market update (Apr 6) highlighted a ₹12.2 lakh crore capex injection into railways and defense — a figure that, while directly relevant to stainless steel, has strong positive read-across for Mild Steel long products. Railway infrastructure projects are among the largest consumers of TMT bars, structural sections, and wire rods in India. This sustained government capex pipeline is a key reason why Secondary TMT's MoM recovery (+5.38%) and Wire Rod's WoW gain (+1.93%) are holding despite near-term spot softness. Procurement managers should note that this government-driven demand tailwind is structural, not cyclical, and is likely to accelerate order placements from EPC contractors in the coming weeks.

Outlook

Looking ahead to the week of Apr 13–19, 2026, watch three variables closely: (1) Mill price circulars from major secondary producers in Raipur and Jalna — any upward revision in billet prices would quickly feed into TMT and structural section costs; (2) global cues on Chinese steel export volumes and the trajectory of US tariff enforcement, which could alter import parity calculations for Indian buyers; and (3) the pace of government project tendering in Q1 FY27, which will determine whether the infrastructure demand recovery translates into actual spot buying or remains aspirational. Actionable advice: Procure Angle, Beam, Channel, and Round Bar at current levels if you have confirmed project requirements in the next 4–6 weeks — structural prices are at a stable floor with an upward bias and mills are unlikely to offer further discounts. For Sponge Pellet and MS Billets, consider a wait-and-watch posture for another 5–7 days to see if the current correction stabilizes before covering your Q1 requirements. Wire Rod buyers should note the recent uptick (+1.93% WoW) and avoid delaying procurement beyond mid-April if volumes are material.