Indian Steel Association writes to PMO defending steel price hike

15 Jul 2021 CW Team

The Indian Steel Association (ISA) informed the PMO about the price hike of the metal after the Ministry of Road Transport and Highways, Nitin Gadkari, wrote to the PM about the impact of rising steel prices on infrastructure projects.

According to the sources, the hot-rolled coil prices have increased by 46% to Rs 52,000 per tonne in November, compared to Rs 37,400 per tonne in July 2021. The housing and construction firm, Rebar TMT, has a price of Rs 50,000 per tonne.

ISA explained the issues regarding iron ore, the rising price of raw materials, shortage in global steel supply, and low capacity utilisation due to Covid-19 disruptions.

The steelmakers' demanded a ban on iron ore exports until the supply stabilises for the key raw material.

The secretary in-general of ISA, Bhaskar Chatterjee told the media that due to shortage of steel in the rise of Covid-19 disruptions, international prices rose to over $750 per tonne from $397 per tonne this year.

Chatterjee said that the price of iron ore had increased more than double from Rs 1,960 per tonne to Rs 4,160 per tonne from June to December 2020.

The iron ore production from April to October 2020 was 92.08 million tonnes (mt), registering a sharp downfall of 30% in the same period last year. Iron ore exports had surged by 70.3% to 29.20 mt in the first half of FY21. The Indian crude steel production fell by 19% in FY21, ISA said.

Due to the Covid-19 pandemic, the Indian steel industry faced several disruptions. Many steel companies in India with sub-optimal operating capacity faced considerable cash losses because the non-absorption of major fixed costs for the quarter ended in June 2020.

Image Source

Also read: TN construction body urges state to regulate bldg material prices

Also read: NMDC slashes iron ore prices by Rs 200 per tonne

On Tuesday, the Indian Steel Association wrote to Prime Minister Narendra Modi, attributing the sudden surge in the price of metal to the cost of raw materials and demanded for an iron ore export ban for six months. The Indian Steel Association (ISA) informed the PMO about the price hike of the metal after the Ministry of Road Transport and Highways, Nitin Gadkari, wrote to the PM about the impact of rising steel prices on infrastructure projects. According to the sources, the hot-rolled coil prices have increased by 46% to Rs 52,000 per tonne in November, compared to Rs 37,400 per tonne in July 2021. The housing and construction firm, Rebar TMT, has a price of Rs 50,000 per tonne. ISA explained the issues regarding iron ore, the rising price of raw materials, shortage in global steel supply, and low capacity utilisation due to Covid-19 disruptions. The steelmakers' demanded a ban on iron ore exports until the supply stabilises for the key raw material. The secretary in-general of ISA, Bhaskar Chatterjee told the media that due to shortage of steel in the rise of Covid-19 disruptions, international prices rose to over $750 per tonne from $397 per tonne this year. Chatterjee said that the price of iron ore had increased more than double from Rs 1,960 per tonne to Rs 4,160 per tonne from June to December 2020. The iron ore production from April to October 2020 was 92.08 million tonnes (mt), registering a sharp downfall of 30% in the same period last year. Iron ore exports had surged by 70.3% to 29.20 mt in the first half of FY21. The Indian crude steel production fell by 19% in FY21, ISA said. Due to the Covid-19 pandemic, the Indian steel industry faced several disruptions. Many steel companies in India with sub-optimal operating capacity faced considerable cash losses because the non-absorption of major fixed costs for the quarter ended in June 2020. Image Source Also read: TN construction body urges state to regulate bldg material prices Also read: NMDC slashes iron ore prices by Rs 200 per tonne

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Infrastructure Urban

09 Jan 2026

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Infrastructure Urban

09 Jan 2026

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..