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According to market sources, Tata Steel's SA203 Grade B steel mills in Kalingara and Jamshedebur are scheduled for routine maintenance from mid February to early March. The annual production capacity of Jamshedebur factory is 12 million tons, while the annual production capacity of Karingagar factory is 3 million tons.
According to sources from the steel SA203 Grade B steel plant, they will try their best to control the maintenance cycle within six months, but the specific time will be evaluated based on the actual situation. Trade insiders believe that although the maintenance will not have a significant impact on production, it may put some pressure on market supply, especially as the factory of ArcelorMittal Nippon Steel in Hazla, Gujarat is currently shut down. It is understood that the annual production capacity of the Hazra factory is 9 million tons, but due to a fire accident that occurred in early January, the factory's current production has been interrupted.
With Tata Steel's maintenance plan and the shutdown of the Hazra plant, market participants expect steel supply in India to become increasingly tight. Industry insiders pointed out that the maintenance will begin this month, which is expected to cause a production capacity gap of about 300000 tons. In addition, the market generally expects that India may implement safeguard measures on hot-rolled coils imported from China, Vietnam, and other countries, which may push up steel prices this month.
Market participants stated that domestic steel mill prices have risen by 1500-2000 rupees per ton in February. At the same time, due to the expiration of certification for overseas steel mills by the Bureau of Indian Standards in November 2024, India's steel imports have declined. Local steel producers hope to take this opportunity to raise SA203 Grade B steel prices, and the prices of spot hot-rolled coils are expected to remain firm.
