Steel prices hiked again

05 Jan 2021 Editorial Team

Jindal Steel & Power (JSPL) has increased prices by Rs 1,000 to Rs 1,500 a tonne. VR Sharma, Managing Director, told media sources that the market is good, but prices would stabilise if National Mineral Development Corporation (NMDC) kept its iron ore prices at a stagnant level.

The rise in the market was seen when JSPL released their production numbers, and the company recorded its highest ever production and sales in December 2020. Other leading producers are also expected to come out with their numbers after NMDC declares their move on the prices.

Steel prices have seen continuous growth since the unlock, proving that the industry is recovering well from the pandemic.

However, this is worrisome for the user industry. Concerns have been raised by the raw materials industry as well.

Indian Steel Association (ISA) has already written to the Prime Minister’s Office (PMO) explaining their reasons for the steel prices hike. Primary among them were that international prices had moved from a bottom of $397 a tonne to $750 a tonne due to temporary shortage in global supplies and a shortage of iron ore, a key input material. The association also highlighted the concern of the industry regarding evacuation challenges with respect to iron ore and mentioned that iron ore export competes with the movement for domestic use. The ISA has requested for a six-month ban on the export of iron ore till the situation stabilises.

Also Read: Steel prices rise 55% in 6 months, minister seeks PM’s intervention

Image Source

Surrounding all the issues of the steel prices hike, some companies have further increased the prices by Rs 1,000 to Rs 2,400 a tonne and have indicated more hikes in the coming weeks. A leading producer said that the price could go up to Rs 6,000 per tonne in the near future. Jindal Steel & Power (JSPL) has increased prices by Rs 1,000 to Rs 1,500 a tonne. VR Sharma, Managing Director, told media sources that the market is good, but prices would stabilise if National Mineral Development Corporation (NMDC) kept its iron ore prices at a stagnant level. The rise in the market was seen when JSPL released their production numbers, and the company recorded its highest ever production and sales in December 2020. Other leading producers are also expected to come out with their numbers after NMDC declares their move on the prices. Steel prices have seen continuous growth since the unlock, proving that the industry is recovering well from the pandemic. However, this is worrisome for the user industry. Concerns have been raised by the raw materials industry as well. Indian Steel Association (ISA) has already written to the Prime Minister’s Office (PMO) explaining their reasons for the steel prices hike. Primary among them were that international prices had moved from a bottom of $397 a tonne to $750 a tonne due to temporary shortage in global supplies and a shortage of iron ore, a key input material. The association also highlighted the concern of the industry regarding evacuation challenges with respect to iron ore and mentioned that iron ore export competes with the movement for domestic use. The ISA has requested for a six-month ban on the export of iron ore till the situation stabilises. Also Read: Steel prices rise 55% in 6 months, minister seeks PM’s interventionImage Source

Infrastructure Transport

18 Dec 2025

RVNL secures Rs 1.65 billion railway bridge project from North Eastern Railway

Rail Vikas Nigam (RVNL) has received a Letter of Award (LoA) from North Eastern Railway for a Rs 1.65 billion railway infrastructure project, strengthening its order book and showcasing its expertise in complex railway construction.The project involves constructing the substructure of a major railway bridge over the Gandak River, located between Paniyahwa and Valmikinagar stations. This is part of the doubling of the Gorakhpur Cantt–Valmikinagar railway section, aimed at improving line capacity and operational efficiency.The bridge will feature 14 spans of 61 metres each, built on double D-t..

Infrastructure Transport

18 Dec 2025

Raebareli’s Modern Coach Factory rolls out 15,000th railway coach

The Modern Coach Factory (MCF) at Raebareli in Uttar Pradesh has achieved a major manufacturing milestone with the rollout of its 15,000th railway coach on December 15, the Ministry of Railways said.In a press note, the ministry said that MCF has already produced 1,310 coaches in the current financial year 2025–26, reflecting sustained high output at one of Indian Railways’ most advanced passenger coach manufacturing units.Established in 2007 at Lalganj in Raebareli district, MCF was built at a cost of Rs 31.92 billion with an initial annual production capacity of 1,000 coaches. The factor..

Infrastructure Transport

18 Dec 2025

RailTel wins Rs 260.88 million IT infrastructure order from VOC Port

Navratna public sector undertaking RailTel Corporation of India has secured an IT infrastructure order worth Rs 260.88 million from V.O. Chidambaranar Port Authority (VOC Port), strengthening its presence in port-led digital transformation projects.According to an exchange filing dated December 16, 2025, RailTel has received a Letter of Acceptance (LoA) from VOC Port Authority for the implementation of advanced IT infrastructure at the port. The project is domestic in nature and is scheduled to be completed by August 15, 2026.The company said the order has been awarded in the normal course of ..