Steel Prices in Mumbai per kg/ton Today (2025)

Steel prices in Mumbai are closely tied to global trends in raw material costs, production capacity, and demand-supply dynamics. Mumbai, being a major hub for construction and manufacturing, sees fluctuations in steel prices influenced by both domestic factors like infrastructure investment and international market trends such as China's steel output and geopolitical issues. As of 2025, steel prices are expected to remain somewhat volatile, with moderate increases predicted, driven by global recovery efforts post-pandemic, ongoing infrastructure projects, and trade regulations.

Steel Price by Product (₹/MT)

These prices are based on market averages from reputable sources like ‘Tata nexarc’s supplier network’ and may vary slightly due to demand and supplier variations.

Steel Price Monthly Trend for 2024-2025

In 2024, Mumbai's steel prices showed a slight upward trend driven by global recovery in infrastructure projects and fluctuating raw material costs, particularly iron ore and coking coal. The first half of 2024 saw prices increase by 5-7% as demand from the construction sector picked up, especially for long products like TMT rebars and structural steel. In 2025, we expect stability and slightly lower steel price in Mumbai.

Steel Price Last 5-Year Trend

Over the past five years, the steel price in Mumbai has fluctuated, particularly affected by the COVID-19 pandemic and global supply chain disruptions. The trend in 2025 appears to be a continuation of the previous year, with sustained demand driving steel prices upward in Mumbai.

Steel Price Predictions & Financial Forecasts

1. Global Demand: Steel demand is expected to rise by 1.7% globally in 2024, with India leading growth at 8.2%, driven by infrastructure investments. Global supply constraints, especially from China, will keep international prices elevated despite some corrections.

2. Raw Material Costs: Key raw materials like coking coal fell from $457/ton (2022) to $130/ton (2023), stabilizing production costs. However, geopolitical issues could still cause price volatility.

3. China's Impact: Weakness in China’s property sector will pressure steel prices, though industrial recovery and infrastructure projects may offset this.

4. Mumbai-Specific Factors: Infrastructure projects will push prices up, with potential mid-year price dips during the monsoon.

5. Price Forecast: · TMT Rebars: ₹58,000/MT → ₹62,000/MT. · HRC: Expected to stabilize around ₹65,000/MT.

How to Procure Steel at Low Prices in Mumbai

1. Bulk Purchases and Negotiation: When you purchase steel in large quantities, you can negotiate better rates with suppliers. Bulk buying reduces operational costs for suppliers, giving you leverage for lower prices. Larger orders from manufacturers also tend to attract higher discounts, providing savings over time.

2. Monitor Market Trends: Steel prices fluctuate based on various factors such as raw material costs, seasonal demand, and international market dynamics. By keeping an eye on market trends, particularly during low-demand periods like the monsoon season, you can purchase steel at lower prices.

3. Long-term Contracts: Securing a long-term contract with a supplier can help you lock in stable, lower prices for an extended period, protecting you from sudden market fluctuations. This strategy also builds supplier loyalty, which can lead to preferential pricing over time.

4. Explore Alternative Suppliers: It’s worth exploring smaller or local suppliers who might offer competitive pricing compared to larger, well-established companies. Diversifying your supplier base enables you to compare prices and get better deals from different sources.

5. Leverage Online Marketplaces: Platforms like Tata nexarc can simplify your steel procurement process. Tata nexarc offers a network of verified suppliers, allowing businesses to compare quotes and source steel at competitive prices. This platform ensures a reliable and efficient procurement process with Tata’s trusted brand backing, making it easier for SMEs to find cost-effective solutions without compromising on quality

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

In conclusion, procuring steel at low prices in Mumbai requires strategic planning. By purchasing in bulk, monitoring market trends, securing long-term contracts, exploring diverse suppliers, and leveraging platforms like Tata nexarc, businesses can save significantly on procurement costs. As Mumbai continues to develop its infrastructure, staying informed about market dynamics will be key to securing the best deals. Tata nexarc, in particular, offers an efficient and reliable solution for businesses looking to optimize their steel procurement.

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.