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

The steel industry in Lucknow, like many other regions in India, is influenced by fluctuating market dynamics, demand, and supply constraints. Steel prices here vary depending on the type of product, grade, and the broader economic factors affecting global steel production and consumption. This article dives deep into the current steel prices, historical trends, predictions, and methods to procure steel at competitive rates.

Steel Price by Product

Below is a detailed breakdown of steel prices in Lucknow, categorized by product type, grade, and price per metric ton.

Category	Product	Grade	Price (₹/MT)
Structural Steel	Angles	IS 2062 E250	₹ 58,000
		IS 2062 E350	₹ 60,000
	Channels	IS 2062 E250	₹ 57,500
		IS 2062 E350	₹ 59,000
TMT Rebars	Fe500	Fe 500	₹ 56,300
		Fe 500D	₹ 56,800
	Fe550	Fe 550	₹ 57,800
		Fe 550D	₹ 58,200
MS Pipes	ERW Pipes	IS 1239 Class A	₹ 62,000
		IS 1239 Class B	₹ 63,500
GI Pipes	Galvanized	IS 3589 Class A	₹ 67,500
		IS 3589 Class B	₹ 69,000
Wire Rods	Low Carbon	IS 7887	₹ 54,000
	High Carbon	IS 7887	₹ 55,500

Steel Price Monthly Trend for 2024-2025

Here is a month-by-month analysis of steel prices in Lucknow for 2024. The data represents fluctuations in pricing due to seasonal demand, global supply chain interruptions, and economic conditions.

Month	Price (₹/MT)	Change (%)
January	₹ 56,500	-
February	₹ 56,200	-0.53%
March	₹ 56,700	0.89%
April	₹ 57,100	0.70%
May	₹ 57,500	0.70%
June	₹ 58,000	0.87%
July	₹ 58,300	0.52%
August	₹ 58,100	-0.34%
September	₹ 57,900	-0.34%
October	₹ 57,500	-0.69%
November	₹ 57,200	-0.52%
December	₹ 57,200	-
January 2025	₹ 57,200	-

Steel Price Trend Over the Last 4 Years

The table below highlights steel price trends in Lucknow over the past four years. Prices have been influenced by economic reforms, global raw material shortages, and industrial demands.

Year	Average Price (₹/MT)	Annual Change (%)
2020	₹ 49,800	-
2021	₹ 54,200	8.83%
2022	₹ 58,400	7.75%
2023	₹ 57,000	-2.40%

Steel Price Predictions & Financial Forecasts for Lucknow

Q1 2024 Outlook:

• Average steel prices are forecasted to be around ₹57,500/MT, driven by stable demand from the construction and infrastructure sectors.
• Global supply chain recovery post-pandemic is stabilizing prices, with minimal volatility expected in the first quarter.

Q2 2024 Trends:

• Anticipated rise to ₹58,200/MT, a 1.22% increase due to infrastructure growth projects and real estate investments.
• Local industrial demand, particularly in manufacturing, is expected to push prices slightly higher.

Global Steel Price Impact:

• Geopolitical tensions and raw material shortages in international markets may lead to minor fluctuations, although these are expected to remain under 1.5%.
• India's domestic production capacity, especially in regions like Odisha and Chhattisgarh, will help moderate excessive price hikes.

Inflation and Currency Exchange:

• Currency depreciation against the dollar could increase import costs for raw materials, contributing to price growth.
• Inflationary pressures globally may drive steel prices up, with a forecasted increase of 0.5-1% in Q3 and Q4 2024.

End of Year Forecast:

• By Q4 2024-2025, prices are predicted to reach ₹59,000/MT as construction projects, particularly smart city initiatives in Uttar Pradesh, pick up pace.
• This translates to a year-on-year increase of approximately 2.61%, primarily driven by strong demand from the infrastructure and automotive sectors.

Demand and Supply Dynamics:

• Regional supply chains are expected to improve, leading to a gradual reduction in transportation costs and thus keeping price increases minimal.
• However, any significant uptick in global demand or domestic production challenges could cause sharper price spikes.

Market Growth and Projections:

• Steel consumption in India is projected to grow by 6-7% annually, aligning with government infrastructure projects, which directly influences price trends.
• Lucknow, being a major hub for construction, is expected to reflect these national trends closely.

How to Procure Steel at a Low Price in Lucknow

To procure steel at competitive prices in Lucknow, buyers can consider the following strategies:

• Bulk Purchasing: Large volume orders tend to offer better discounts and flexible payment terms.
• Supplier Comparison: Regularly comparing prices from different local and regional suppliers can reveal opportunities for better deals.
• Seasonal Discounts: Taking advantage of end-of-quarter or end-of-year sales can help secure lower prices.
• Government Tenders: Leveraging government-backed procurement platforms like GeM (Government e-Marketplace) can offer better rates for bulk orders.

By following these procurement strategies, buyers in Lucknow can reduce costs and enhance their purchasing power in the dynamic steel market.

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

In conclusion, steel and TMT bars prices in Lucknow have shown steady fluctuations over recent years, influenced by market demand, supply chain dynamics, and economic trends. As 2024 progresses, slight price increases are expected, making it crucial for buyers to adopt smart procurement strategies to secure the best deals. To simplify this process, Tata nexarc offers businesses a platform to procure steel and other materials efficiently, ensuring competitive pricing and verified suppliers. With its robust network, Tata nexarc helps buyers navigate market complexities, optimizing costs and securing timely deliveries for all steel needs in Lucknow and beyond.

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.