Steel Prices in Bangalore per kg/ton Today (2024)

Steel is an essential raw material used across industries in Bangalore, particularly in construction, manufacturing, and infrastructure development. As one of the key metropolitan areas in India, Bangalore sees significant demand for steel products, with prices fluctuating based on global trends, supply chain logistics, and regional demand patterns. Staying informed about steel prices in Bangalore is crucial for businesses looking to optimize costs and plan their procurement strategies effectively.

Steel Price by Product

Below is a comprehensive breakdown of the latest steel prices in Bangalore by category, product, and grade. The prices are presented in ₹ per metric ton (MT).

Category	Product	Grade	Price (₹/MT)
Long Products	TMT Bars	Fe 500D	₹ 56,000
		Fe 500	₹ 55,500
		Fe 550D	₹ 57,000
	Structural Steel	ISMB 200	₹ 58,500
		ISMB 250	₹ 60,000
		ISMB 300	₹ 62,500
Flat Products	Hot Rolled Coils (HRC)	IS 2062 E250	₹ 55,000
		IS 2062 E350	₹ 57,500
		IS 1079	₹ 58,000
	Cold Rolled Coils (CRC)	IS 513	₹ 62,000
		IS 277	₹ 63,500
		IS 10748	₹ 64,000
Tubular	MS Pipes	ASTM A53	₹ 50,000
		ASTM A106	₹ 52,000
		IS 1239	₹ 53,500
	GI Pipes	IS 1239	₹ 52,500
		IS 3589	₹ 54,000
Specialty Steel	Stainless Steel (304)	ASTM A240	₹ 1,50,000
		ASTM A276	₹ 1,52,500
		ASTM A312	₹ 1,54,000

Steel Price Monthly Trend for 2024

The table below highlights the monthly steel price trends in Bangalore for 2024. This data reflects the average market rates for commonly used steel products, allowing for better planning and cost management.

Month	TMT Bars (₹/MT)	HRC (₹/MT)	CRC (₹/MT)	MS Pipes (₹/MT)
January	₹ 54,000	₹ 52,500	₹ 60,000	₹ 48,500
February	₹ 55,500	₹ 53,500	₹ 61,000	₹ 49,000
March	₹ 56,000	₹ 55,000	₹ 61,500	₹ 50,000
April	₹ 57,500	₹ 56,000	₹ 62,000	₹ 50,500
May	₹ 58,000	₹ 57,000	₹ 62,500	₹ 51,000
June	₹ 58,500	₹ 57,500	₹ 63,000	₹ 51,500
July	₹ 59,000	₹ 58,000	₹ 63,500	₹ 52,000
August	₹ 59,500	₹ 58,500	₹ 64,000	₹ 52,500
September	₹ 60,000	₹ 59,000	₹ 64,500	₹ 53,000
October	₹ 60,500	₹ 60,000	₹ 65,000	₹ 53,500
November	₹ 61,000	₹ 60,500	₹ 65,500	₹ 54,000

Steel Price Last 4-Year Trend

Examining steel prices over the last four years provides insights into long-term trends and market stability in Bangalore.

Year	TMT Bars (₹/MT)	HRC (₹/MT)	CRC (₹/MT)	MS Pipes (₹/MT)
2021	₹ 51,000	₹ 48,500	₹ 55,000	₹ 45,500
2022	₹ 53,500	₹ 50,000	₹ 57,500	₹ 47,000
2023	₹ 55,000	₹ 52,000	₹ 60,000	₹ 48,500
2024	₹ 60,000	₹ 59,000	₹ 65,000	₹ 53,500

Steel Price Predictions & Financial Forecasts

Global Market Impact:

• Global steel demand: it is projected to grow by 2.2% in 2024, influenced by recovery in construction and manufacturing sectors.
• China’s production cuts: China's reduction in steel output to meet carbon neutrality goals has led to increased demand for Indian exports, potentially driving up prices in Bangalore by 5-7%.

Domestic Demand Growth:

• Infrastructure Investments: The Indian government’s focus on infrastructure projects (such as the National Infrastructure Pipeline and urban development in Bangalore) is expected to boost steel consumption, leading to a 3-5% price increase in the short term.
• Automotive and Manufacturing: Demand for high-grade steel (HRC, CRC) from the automotive and machinery sectors in Bangalore is expected to grow by 4% annually, affecting price stability.

Supply Chain Disruptions:

• Logistics and Raw Material Costs: Rising logistics costs due to global fuel price hikes and transportation bottlenecks could add ₹ 2,000-₹ 3,000/MT to steel prices in Bangalore.
• Raw Material Scarcity: Disruptions in the supply of iron ore, a key raw material for steel production, could lead to a 4-6% price increase in the second half of 2024.

Price Forecasts (2024):

• TMT Bars: Expected to increase from ₹ 60,000/MT to ₹ 63,500/MT by Q4 2024 due to rising infrastructure demand.
• Hot Rolled Coils (HRC): Prices forecasted to rise from ₹ 60,000/MT to ₹ 64,500/MT, primarily driven by strong demand from the automotive and appliance industries.
• Cold Rolled Coils (CRC): Prices may reach ₹ 66,000/MT by Q4 2024, attributed to rising demand for precision-grade steel in the manufacturing sector.

Statistical Overview:

• Annual Steel Price Growth: A CAGR of 5.8% is anticipated for steel prices in Bangalore from 2024-2026.
• Price Volatility Index: Steel prices in Bangalore have shown a 12% volatility over the last 5 years, indicating moderate fluctuations in response to global and domestic factors.

Financial Data:

• Capital Expenditure Growth: Bangalore’s infrastructure and real estate sectors are expected to see a 14% rise in capital expenditure in 2024, directly impacting steel demand.
• Foreign Direct Investment (FDI): The FDI inflow into Karnataka’s manufacturing sector (including steel) grew by 6.5% in 2023, which may further boost domestic steel consumption.

How to Procure Steel at Low Prices in Bangalore

1. Bulk Purchasing: Leveraging bulk orders can help buyers negotiate better prices with suppliers. Many dealers offer significant discounts for large volume purchases.
2. Off-Peak Procurement: Steel prices typically rise during peak construction seasons. By purchasing during off-peak periods, companies can secure lower rates.
3. Supplier Diversification: Sourcing steel from multiple suppliers allows buyers to compare prices and secure the best deal available in the market.
4. Monitor Market Trends: Stay informed on global steel market trends and local fluctuations in Bangalore. This can help businesses anticipate price changes and act accordingly.

Tata nexarc provides a reliable platform for SMEs to source high-quality steel at competitive prices, backed by Tata’s trusted network of verified suppliers. With streamlined procurement, credit options, and real-time pricing insights, Tata nexarc simplifies the steel buying process for businesses, ensuring cost-effective solutions tailored to their needs.

Unlock the power of credit to buy quality steel with Tata nexarc

staying informed about steel prices in Bangalore is crucial for businesses to optimize procurement and manage costs effectively. This article provided an in-depth analysis of current prices, market trends, and financial forecasts, highlighting the impact of global demand, domestic infrastructure growth, and supply chain challenges. By understanding the detailed price breakdowns and projections, businesses can make informed purchasing decisions and secure steel at competitive rates. Leveraging strategic buying practices, such as bulk purchasing and monitoring price trends, can further enhance cost efficiency. Reliable data and market insights empower businesses to stay ahead in a fluctuating steel market.

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.