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

Steel prices in Pune have shown volatility in 2024 due to various market factors like global economic recovery, raw material costs, and domestic demand. Pune's strategic location, coupled with its growing industrial and construction sectors, keeps it at the heart of Maharashtra's steel demand. As of mid-2024, prices have fluctuated, but trends show a slight softening due to global supply chain improvements and reduced geopolitical risks.

Steel Price by Product

Steel Price Monthly Trend for 2024

Steel Price Last 4-Year Trend

Steel Price Predictions & Financial Forecasts

The steel market in Pune is expected to experience moderate changes in the upcoming months and years due to both global and domestic influences. The following are key factors that will shape steel prices and financial forecasts in Pune for 2024 and beyond:

1. Global Market Dynamics

• Supply Chain Stability: Global steel supply chains have stabilized after pandemic disruptions, and Indian manufacturers are expected to maintain strong production levels despite ongoing energy challenges in regions like Europe and China. Any changes in global supply can cause shifts in local pricing.
• Raw Material Costs: Iron ore and coking coal prices are crucial drivers for steel costs. These raw material prices are expected to remain steady but may fluctuate by 3-5% in 2024 depending on global demand trends and supply chain stability.
• Geopolitical Risks: Geopolitical tensions, particularly sanctions on Russian exports, may impact global steel prices by raising the cost of raw materials and supply. This could push local prices upward by an additional 2-4% in Pune.

2. Domestic Demand

• Infrastructure Growth: Pune’s infrastructure expansion, driven by large-scale construction projects and government investment, will increase the demand for long steel products like TMT rebars. Prices for TMT rebars are forecasted to rise by 2-3% annually until 2025, based on steady demand.
• Automotive Manufacturing: Pune is a key industrial hub for the automotive sector, where the demand for flat steel products (e.g., Hot Rolled Coils) is rising. Electric Vehicle (EV) production growth may drive HRC prices to increase by 1-2% in 2024.

3. Energy and Environmental Impact

• Energy Costs: Energy, particularly electricity and gas, plays a significant role in steel production. Rising energy costs could push production prices up by 2% in the short term.
• Environmental Regulations: Compliance with stringent environmental regulations aimed at reducing emissions is likely to force producers to invest in more sustainable production methods, leading to a potential 1-2% increase in steel prices by late 2024.

4. Price Forecasts for 2024

• Hot Rolled Coil (HRC): The price is expected to stabilize at ₹56,500/MT by mid-2024, with possible price increases later in the year driven by fluctuations in raw material costs.
• TMT Rebars: With ongoing infrastructure projects, TMT Rebars prices are forecasted to increase slightly, reaching around ₹53,000/MT by late 2024.
• GI Pipes: The price of galvanized iron (GI) pipes is expected to remain around ₹66,500/MT, with a potential rise to ₹68,500/MT by the third quarter of 2024.

5. Financial and Statistical Analysis

• Annual Growth Rate: The Indian steel market, including Pune, is projected to grow by 6-8% annually, with consistent demand from construction and manufacturing sectors.
• Steel Export Trends: Indian steel exports are expected to grow by 5-7% through 2025, influenced by increasing global demand. This may tighten domestic supply, leading to price adjustments.
• Investment Projections: Indian steel manufacturers are projected to invest between ₹200-300 crore in eco-friendly production technologies over the next two years, which could affect production costs and prices.

How to Procure Steel at Low Prices in Pune

1. Bulk Purchases: Steel suppliers often provide discounted rates for bulk orders. Purchasing large quantities directly from manufacturers or wholesalers can significantly reduce per-unit costs.
2. Timing and Market Monitoring: Keep an eye on market trends and time your purchase during price dips. Steel prices fluctuate based on global supply, demand, and raw material costs, so buying during a low-price window can help save costs.
3. Long-Term Contracts: Establishing long-term agreements with suppliers can lock in lower prices, protecting you from sudden market fluctuations. This is particularly useful in markets with volatile pricing like steel.
4. Explore Local Suppliers: By sourcing steel from local dealers in Pune, you can avoid high transportation costs and gain access to better prices, especially if the supplier is trying to clear inventory quickly.

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

Tata nexarc is your go-to platform for procuring steel at the best prices in Pune. With an extensive network of verified suppliers and real-time market insights, Tata nexarc ensures you get quality steel products at competitive prices. The platform offers a seamless purchasing experience with transparent pricing, flexible payment options, and reliable delivery services. Whether you’re buying in bulk or looking for specific steel grades, Tata nexarc helps businesses of all sizes secure the best deals on steel, making procurement easier and more cost-effective. steel prices in Pune are influenced by global market trends, domestic demand, and energy costs. The market remains dynamic, with key factors like infrastructure growth and environmental regulations impacting future price movements. Buyers looking to procure steel or TMT Bars at competitive prices can take advantage of bulk purchases, market timing, long-term contracts, and local suppliers. Additionally, platforms like Tata nexarc offer businesses a streamlined way to source quality steel at competitive prices, with added benefits like flexible payment options and verified suppliers. Staying informed about market trends and leveraging the right procurement strategies is essential for cost-effective steel sourcing.

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.