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

Steel prices in Ludhiana are shaped by a combination of national demand, global economic conditions, and specific local industry requirements. The city, being a key manufacturing hub, sees consistent demand for steel across construction, real estate, and automotive sectors. Despite global economic slowdowns, India's steel consumption is projected to grow by around 9-10% in 2024, driven by continued government investments in infrastructure and housing. This growth is expected to stabilize steel prices in Ludhiana, despite some price fluctuations caused by global factors.

Steel Price by Product

Category	Product	Grade	Price (₹/MT)
Structural Steel	TMT Rebars	Fe 500	₹ 55,000
		Fe 550	₹ 56,500
		Fe 600	₹ 58,000
Flat Steel	Hot Rolled Coils	IS 2062 E250	₹ 60,000
		IS 2062 E350	₹ 62,500
Pipes	MS Pipes	ASTM A53 Grade A	₹ 48,000
		ASTM A53 Grade B	₹ 49,500
GI Pipes	Galvanized Iron	IS 1239 Medium	₹ 52,000
		IS 1239 Heavy	₹ 54,500

Steel Price Monthly Trend for 2024

Throughout 2024, steel prices in Ludhiana are expected to follow cyclical trends. Prices may experience minor declines during mid-year due to increased global steel production, leading to a temporary oversupply. However, strong domestic demand, especially from infrastructure projects, is projected to sustain price levels.

Month	TMT Rebars (Fe 500)	MS Pipes (ASTM A53)	GI Pipes (IS 1239)
January	₹ 56,000	₹ 48,500	₹ 52,500
February	₹ 55,500	₹ 48,200	₹ 52,200
March	₹ 55,200	₹ 48,000	₹ 52,000
April	₹ 54,800	₹ 47,800	₹ 51,800
May	₹ 54,500	₹ 47,500	₹ 51,500
June	₹ 54,200	₹ 47,300	₹ 51,300
July	₹ 54,000	₹ 47,100	₹ 51,100
August	₹ 53,800	₹ 46,900	₹ 50,900
September	₹ 53,600	₹ 46,700	₹ 50,700
October	₹ 53,400	₹ 46,500	₹ 50,500
November	₹ 53,200	₹ 46,300	₹ 50,300

Steel Price Trend over the Last 4 Years

The following table shows the trend of steel prices in Ludhiana over the past four years, reflecting global price cycles, supply-demand fluctuations, and changes in raw material costs.

Year	TMT Rebars (Fe 500)	MS Pipes (ASTM A53)	GI Pipes (IS 1239)
2020	₹ 50,000	₹ 45,000	₹ 47,500
2021	₹ 57,000	₹ 52,000	₹ 54,000
2022	₹ 60,000	₹ 55,000	₹ 56,500
2023	₹ 58,500	₹ 53,500	₹ 55,200

Steel Price Predictions & Financial Forecasts

Price Fluctuations:

• In 2024, steel prices in Ludhiana are projected to hover between ₹54,000 and ₹56,000 per metric ton. This is largely due to an expected oversupply in global markets and subdued demand from major steel-consuming countries, particularly China. However, domestic infrastructure demand will likely keep prices stable through the year.
• Global forecasts suggest a 1.4% decline in steel prices in 2024, with prices of hot rolled coil (HRC) stabilizing around $740 per metric ton.

Domestic Growth & Infrastructure Demand:

• India's steel consumption is anticipated to grow by 9-10% in 2024, driven by infrastructure projects under the National Infrastructure Pipeline (NIP). These projects, worth ₹108 trillion, are a crucial part of India’s growth strategy. The ongoing development of roads, bridges, and urban construction will sustain the demand for steel in Ludhiana.
• The real estate sector, along with government-backed infrastructure, continues to be the largest driver of steel consumption.

Production Capacity & Imports:

• Steel production in India is set to expand significantly, with an addition of 27.5 million metric tons of capacity expected between FY2025 and FY2027. Although domestic production is growing, India became a net steel importer in 2024, and imports are projected to increase by 13-14% in FY2025. This is a result of weaker global demand, particularly from Europe and Southeast Asia, where Indian steel competes.
• The capacity utilization rate is expected to remain around 88%, ensuring stable output while keeping imports competitive.

Financial Outlook:

• The financial outlook for Ludhiana's steel sector is promising, with expected earnings improvements in FY2025. Earnings per metric ton are predicted to increase by $12-18, supported by better price realizations and higher deliveries.
• The debt-to-operating profit ratio for the industry is expected to stay at 2-2.5 times, which provides resilience against any macroeconomic challenges that might arise in the short term.

How to Procure Steel at Low Prices in Ludhiana

Bulk Purchases: Buying in larger quantities often allows businesses to negotiate better prices. Many suppliers offer bulk discounts or lower rates when purchasing a significant volume of steel, helping to reduce overall procurement costs.

Monitor Price Fluctuations: Keep track of global and domestic steel price trends. Prices often fluctuate due to seasonal supply and demand shifts, raw material costs, and geopolitical factors. Purchasing steel during low-demand periods can result in substantial savings.

Leverage Government Marketplaces: Platforms like the Government e-Marketplace (GeM) allow businesses to procure steel at competitive rates. These platforms provide access to verified sellers, often at lower prices than traditional procurement methods.

Build Long-Term Supplier Relationships: Establishing strong, long-term partnerships with local steel suppliers in Ludhiana can provide you with negotiated terms, discounts, and priority during times of high demand, ensuring lower prices and steady supply.

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

In conclusion, Ludhiana’s steel market in 2024 is poised for stable demand, driven by infrastructure and real estate projects. Despite global price fluctuations, strategic procurement methods can help businesses secure steel at competitive rates. To streamline your steel purchasing process and gain access to a network of trusted suppliers, Tata nexarc offers a digital platform designed to simplify procurement, providing you with transparent pricing and a seamless buying experience. Whether you’re a small business or an enterprise, Tata nexarc ensures efficient procurement solutions to help you stay ahead in the competitive 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.