Steel Prices in India (2024) – Today rate per kg/ton

• Prices are indicative - Not to be considered as a final rate.
• Price: Ex- yard
• GST, Packaging, Loading, Freight charges are not included.
• Rs. 500 extra for cutting to length of 2,000 mm or higher on coils.

Steel price chart India

As stated previously, steel prices fluctuate. As a business owner looking to procure and buy steel online, it’s important to know steel price today in India by kg/tonne. Check the latest steel market price table listed above for your reference.

To know more about specific steel suppliers, steel price per tonne/kg, steel metal price in Mumbai, Pune, Chennai, and other cities, or to buy quality steel, contact our team at Tata nexarc today. You can find the best deals and offers on TMT bars, hot rolled coils (HRC), steel channels and angles, galvanised/galvanized steel, steel sheets, and more easily on Tata nexarc (Connect with us on WhatsApp).

Why are steel prices increasing in India?

Steel prices in India has witnessed steep fluctuations over the last few months, with cost of steel metal rising by over 5% in February 2024.

The change in daily steel price is triggered by multiple factors including rise in domestic demand and exports, and increasing cost of other raw materials (especially coking coal and iron ore, and also nickel).

With a Y-o-Y growth at 5% CAGR, steel production in India has been scaling with demand across construction, manufacturing, aviation, automotive, railways and other sectors, resulting in changing daily steel price updates.

Steel price per kg/tonne in India differs across cities and states, brands, manufacturers, wholesalers, suppliers and other factors.

Since July 2020, steel market price has been fluctuating, with FY21 witnessing a staggering 55% hike in steel rates.

The price of hot-rolled coil (HRC) surged to ₹60,000 per tonne (its highest in 13 years), while cold rolled coils (CRC) price touched ₹89,000 per tonne in Mumbai (wholesale), and price of TMT bars approximated at ₹56,000 per tonne (June 2021). Multiple global market forces and conditions especially China’s import-export updates, increase in the prices of iron ore, impact of the pandemic etc. affected steel metal price. (Source: Times of India industry quote, The Hindu BusinessLine).

Several industries and businesses were impacted by the changes in the steel price graph. Automotive manufacturers for instance had to surge vehicle prices to maintain profits. Similarly, steel price hike had a ripple effect on related industries including manufacturing, infrastructure development, and real estate.

Though domestic steel rates in India are considerably lower than its global counterparts, it is a matter of concern for all businesses.

Platform Features:

• Constantly Updated Steel Price List: Find current prices for a wide range of steel products commonly used in various MSME applications.
• Detailed Product Information: Gain insights into different steel types, grades, specifications, and their suitability for specific projects.
• Clear and Easy-to-Understand Price Trend Indicators: Make informed decisions with historical data and forecasts to predict price movements.
• Location-Specific Price Lists: Access competitive steel prices across major Indian cities, allowing for cost-effective procurement.
• Project Quote Request: Simplify your steel procurement process by requesting a quote tailored to your project requirements.

Our platform provides a detailed breakdown of steel prices for various products including:

• TMT Bars: Explore prices for different grades (Fe 415, Fe 500) and sizes to find the perfect reinforcement material for your construction project.
• HR Coils: Discover current prices for Hot Rolled Coils, a versatile steel product used in diverse applications like pipes, sheets, and structural components.
• Plates: Access price lists for various plate thicknesses, ideal for construction projects, shipbuilding, and industrial equipment fabrication.
• Angles & Channels: Find current prices for L-shaped angles and U-shaped channels, crucial for providing structural support in frames, trusses, beams, and columns.
• Pipes: Explore prices for pipes in different diameters and thicknesses, used for transporting fluids and gasses across various industries.
• Sheets: Discover current prices for sheets available in a wide range of thicknesses, finishes, and coatings, suitable for applications like roofing, cladding, metal fabrication, and automotive components.

Tata nexarc recognizes regional variations in steel prices. We offer location-specific price lists for major Indian cities like Delhi, Mumbai, Chennai, Kolkata, Bangalore, and more. This empowers you to:

• Compare Prices Across Cities: Identify the most competitive deals for your project by comparing steel prices in different locations.
• Plan Effectively: Factor in regional price variations while budgeting, ensuring accurate cost estimates and avoiding budget overruns.

Benefits for MSMEs:

• Streamlined Procurement: Simplify steel procurement with a comprehensive price list and easy-to-use platform, saving you valuable time and resources.
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• Increased Transparency: Location-specific price lists provide regional price insights, ensuring fair and transparent steel procurement.
• Improved Cash Flow: Gain control over procurement costs with the ability to plan purchases based on market trends and optimize project budget allocation.

A Case Study: Empowering a Growing MSME

Rawat Metalworks, a thriving MSME specializing in metal fabrication, previously relied on unreliable sources for steel price information. This led to inaccurate budgeting and unexpected cost overruns. Since adopting Tata nexarc, ABC Metalworks has experienced significant improvements:

• Reduced Procurement Costs: By comparing prices across locations and leveraging price trend analysis, ABC Metalworks has secured more competitive steel deals.
• Improved Project Planning: Access to accurate and updated steel prices allows ABC Metalworks to create precise project budgets and avoid cost surprises.
• Enhanced Cash Flow Management: Understanding market trends allows ABC Metalworks to optimize purchase timing, leading to better cash flow management.

By leveraging Tata nexarc's platform, Rawat Metalworks has gained a competitive edge in the market and is now well-positioned for continued growth.

Conclusion:

Explore Tata nexarc's user-friendly steel price list today! With our platform and insightful resources, you'll gain the knowledge and tools necessary to make informed steel procurement decisions and optimize your business success.

Disclaimer: Prices are indicative and subject to change. Buyers are requested to contact our team at Tata nexarc for latest TMT bar price range available from different manufacturers, suppliers, wholesalers. For more details on TMT bar size and grade (e.g., Fe 415, Fe 500, Fe 550, Fe 600) get in touch now. GST + freight additional.

Also Read: Latest Steel prices in Ahmedabad