Steel Prices

The Indian steelmaker's aim to turn around its UK operations faces challenges from the external environment

Global oversupply and Chinese exports continue to weigh on prices, but strong domestic demand and expected duty support could help stabilise Indian steel prices by the final quarter of FY26

Buoyant demand has failed to push steel prices amid an increase in production and imports, threatening to slow expansion plans and limit companies' ability to reinvest in capacity addition

Domestic steel prices have slumped to a five-year low, trading in the range of Rs 47,000-?48,000 per tonne impacted by multiple factors, including surging imports, as per market data from BigMint. Hot rolled coil (HRC) prices are hovering around Rs 47,150 per tonne, while re-bar (TMT) is quoted in the range of Rs 46,500-47,000 per tonne in the wholesale market. The last time prices were at such levels was in 2020, when HRC was trading at Rs 46,000/tonne levels and rebar at Rs 45,000/tonne amid the pandemic slowdown. The current decline is largely attributed to weak export demand, rising imports, and an oversupply in the global market. India's steel exports have fallen sharply, pressured by aggressive export pushes from countries like China, while imports are still active, despite several measures introduced by the government. Falling prices amid rising imports is a matter of concern as inbound shipments are increasing despite several measures introduced by the government. Taking

Standalone blended realisation at Rs 60,591 per tonne was lower by 8.7 per cent YoY and 0.8 per cent QoQ

Price rise mainly due to jump in cost of cement, steel, and skilled labour

It is widely anticipated that the 25 per cent tariff imposed by the US from March 12, 2025, will lead to trade diversion and increased imports into India

On the bourses, Tata Steel shares closed 0.38 per cent lower at Rs 130. In comparison, BSE Sensex settled 0.43 per cent lower at 76,190.46 levels, on Friday, January 24, 2025

A BigMint analyst said China's latest economic stimulus measures provided a short-term boost to steel prices, driven by infrastructure spending and interest rate cuts

Global steel industry is facing a major threat due to surge in steel exports, particularly from China at predatory prices

Domestic steel spread is at Rs 24,330 per tonne ( the lowest since March 2024) and the price of hot rolled coil (HRC) is at Rs 51,370 per tonne (the lowest since December 2020), said Dixit

Increased imports from China and Vietnam into India, alongside Chinese supply in overseas markets, have made Indian exports uncompetitive in many regions, putting downward pressure on domestic prices

Individually, Welspun Corp, and Steel Authority of India dropped 8.5 per cent each, NMDC 4.9 per cent, APL Apollo Tubes 3.8 per cent, and Adani Enterprises 2 per cent in the last one month

The run-up in the stock prices of metal companies, analysts said, has largely been driven by tighter supplies in the global markets, coupled with hopes of improving demand, especially in China

Flat steel prices began their ascent from August after experiencing a slump between May and July. Nevertheless, trade prices remain shy of their April marks

Steel prices in India are registering an upward trend due to "rapidly" increasing rates of key input material coking coal, industry executive Bimlendra Jha said. Coking coal and iron ore are the two main raw materials used to manufacture steel. While iron ore is available in substantial quantity in India, steel players are bound to meet 90 per cent of their coking coal requirement through imports from countries like Australia and South Africa. "Coking coal prices have increased rapidly (which are) currently trading at USD 341 per tonne CFR (cost and freight) India, from USD 230 a tonne in June-July 2023," Jha, Managing Director of Jindal Steel and Power (JSP), told PTI. The steel industry is facing an upward movement in prices because there has been a dramatic shift in coking coal prices, so the industry has no option but to pass on the cost to consumers, he said in reply to a question on increasing rates of steel in India. As per markets research firm SteelMint India, the cost of

Domestic steel prices are expected to remain stable in the coming months of the current fiscal, backed by strong demand, rising coking coal prices and production-related dynamics in China, amid a slowdown in the global economy, according to a Crisil report released on Tuesday. In its market intelligence and analytics report, Crisil expects flat steel to hover around Rs 59,000 per tonne and Rs 56,000 per tonne for long steel. It said that domestic steel demand is poised to grow in double digits for the third consecutive year, supported by pre-election spending in the current fiscal year. "Flat steel prices should remain elevated at around Rs 59,000 per tonne in fiscal year 2024, dipping only marginally by 2-4 per cent on-year amid better demand prospects and rising coking coal prices. Prices are expected to average at around Rs 60,000 per tonne in the second half of this fiscal as against Rs 58,300-58,500 per tonne in the first half," said Sachidanand Choubey, Manager (Research) at .

Stainless steel maker Jindal Stainless Ltd (JSL) has sought the government's intervention to check increasing imports of steel products from a select group of countries including China. Select few countries including China are flooding the domestic market with their products, Jindal Stainless Ltd (JSL) Managing Director Abhyuday Jindal said. "We urge the government to take some steps to check these imports. The government can put anti-dumping duty (ADD) and countervailing duty (CVD) on the import of the items," he said. According to official data, the Share of China, Japan, Vietnam, Saudi Arabia, Russia, Nepal and the USA increased in total steel imports of India in June 2023 as compared to June 2022. India's steel imports rose 7.6 per cent to 4.84 lakh metric tonne during June 2023, over the same month last year. In June 2022, the import from China was 26.1 per cent and Vietnam was 1 per cent. However, in June 2023, the import from China contributed 37.1 per cent and Vietnam's sh

Stock valuations could improve dramatically if demand rebounds and the China policy support comes through

Jindal Steel and Power Ltd reported a 69.5% fall in quarterly profit on Tuesday, hurt by lower steel prices and higher costs of raw materials like iron.