Indian steel prices fall on Chinese demand

05 Mar 2021 Editorial Team

Steel prices have taken a downslope after large steel manufacturers slashed prices of hot rolled and cold rolled coils by up to Rs 1,500 a tonne in the first week of March. This is the first significant price cut in the last nine months. JSW Steel, one of the largest producers of steel in the country, cut prices of hot rolled and cold-rolled coils by Rs 1,000 a tonne.

Domestic prices of hot rolled coil surged 54% year-on-year in the December quarter amid a robust recovery in domestic demand, similar to higher global steel prices. Those prices corrected themselves by 3% in mid-February this year to Rs 53,750 per tonne but were still 40% higher on a year-on-year basis.

A report from India Ratings and Research said domestic steel prices have reduced due to rising inventories with traders who are reluctant to procure steel at the high price levels since they have sufficient inventories, a slight moderation in demand from auto and pipe makers, and a disparity between the mill price and trade price.

Domestic rebar prices have also corrected due to the reduction in iron ore prices and increasing production by secondary steel producers. Domestic rebar prices in mid February were at Rs 48,800 a tonne, which is 9% lower on a month-on-month basis but 38% higher compared to the same period last year.

Experts believe that the Chinese demand is likely to remain largely stable in 2021 with the steady recovery of its economy, and that any production cut may lead to a price hike, which may force prices in India on the upward trajectory again.

Access latest steel prices here.

Image Source

Infrastructure Energy

07 Nov 2025

REC Approves Rs 75 billifor Brookfield’s Hybrid Energy Project

The Rural Electrification Corporation (REC) Ltd, a Maharatna non-banking finance company, has sanctioned Rs 75 billion for Brookfield’s 1,040 MW hybrid renewable energy project in Kurnool district — its largest-ever funding to a private-sector venture.Developed by Evren, a joint venture between Brookfield (51.49 per cent) and Axis Energy, the Rs 99.1 billion project integrates 640 MW of wind and 400 MW of solar power with battery storage. It is India’s first Firm and Dispatchable Renewable Energy (FDRE) project featuring state-level grid connectivity and a dedicated power purchase agreem..

Piyush Goyal Boosts India–New Zealand Trade Ties

Union Minister of Commerce and Industry, Shri Piyush Goyal, is on an official visit to New Zealand to strengthen bilateral economic and trade relations between the two nations. The fourth round of India–New Zealand Free Trade Agreement (FTA) negotiations is currently underway in Auckland from 3 to 7 November 2025. At the India–New Zealand Business Forum, organised by the Auckland Business Chamber, Shri Goyal joined Hon. Todd McClay, Minister for Trade of New Zealand, for a Fireside Chat moderated by Mr Simon Bridges, CEO of the Auckland Business Chamber. Opening the session, Shri Goyal r..

India, Romania Strengthen Trade and Industry Cooperation

Minister of State for Commerce and Industry, Shri Jitin Prasada, led the Indian business delegation at the India–Romania Business Forum, organised by the Chamber of Commerce and Industry of Bra?ov (CCIBv) in partnership with the Embassy of India in Bucharest and the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India. The engagement focused on expanding bilateral investment and industrial cooperation between the two countries, bringing together business leaders from key sectors such as automotive, aerospace, defence, renewable energy, engineering services, a..