Steel products prices drops by 10%-15% to Rs 57,000 per tonne
Steel

Steel products prices drops by 10%-15% to Rs 57,000 per tonne

Prices in the long products segment have declined about 10-15% to Rs 57,000 per tonne in the Kolkata market from a high of Rs 65,000 per tonne.

Steel sector players are witnessing challenges due to high input commodity prices as finished steel products have begun to decline in April after the Russia-Ukraine war.

Steel prices from leading players were at Rs 75,000 to Rs 76,000 per tonne.

Chairman of Steel Rolling Mills Association, Vivek Adukia, told the media that steel products like TMT bars and structurals have reduced to 10%-15% due to sluggish demand and are expected to ease more before it settles.

He said that costs have increased by 50% despite a compromise on the quality of inputs, while the secondary steel producers using Direct Reduced Iron (DRI) require high-quality thermal coal for making sponge iron. The imported coal price at $120 per tonne had increased to $300 per tonne after the Russia-Ukraine war.

According to Crisil's report, steel prices may trade at around Rs 60,000 per tonne by the end of the current fiscal year, down from the Rs 76,000 per tonne during the last month.

CEO and Managing Director of Tata Steel, T V Narendran, told the media that in India, the prices might reach Rs 8,000 to Rs 8,500 per tonne higher than in the fourth quarter, which will cover the cost increases due to high coal prices.

Koustav Mazumdar, associate director of Crisil Research, said that with the onset of the monsoon and less lucrative exports, the domestic steel prices should begin easing and move towards Rs 60,000 per tonne by March 2023, down from the Rs 76,000 per tonne, which will be well above the pre-pandemic levels.

Adukia said that steel companies are now forced to import coal as Coal India Limited (CIL) is not lending its ears to their demand.

He said that if coal prices in the international market do not drop, then 30%-40% of the secondary steel units will have to scale down production or close down. There are about 65 secondary units in West Bengal, with one lakh employment.

Image Source

Also read: India exports 13.5 mt finished steel worth Rs 1 lakh cr in FY22

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Prices in the long products segment have declined about 10-15% to Rs 57,000 per tonne in the Kolkata market from a high of Rs 65,000 per tonne. Steel sector players are witnessing challenges due to high input commodity prices as finished steel products have begun to decline in April after the Russia-Ukraine war. Steel prices from leading players were at Rs 75,000 to Rs 76,000 per tonne. Chairman of Steel Rolling Mills Association, Vivek Adukia, told the media that steel products like TMT bars and structurals have reduced to 10%-15% due to sluggish demand and are expected to ease more before it settles. He said that costs have increased by 50% despite a compromise on the quality of inputs, while the secondary steel producers using Direct Reduced Iron (DRI) require high-quality thermal coal for making sponge iron. The imported coal price at $120 per tonne had increased to $300 per tonne after the Russia-Ukraine war. According to Crisil's report, steel prices may trade at around Rs 60,000 per tonne by the end of the current fiscal year, down from the Rs 76,000 per tonne during the last month. CEO and Managing Director of Tata Steel, T V Narendran, told the media that in India, the prices might reach Rs 8,000 to Rs 8,500 per tonne higher than in the fourth quarter, which will cover the cost increases due to high coal prices. Koustav Mazumdar, associate director of Crisil Research, said that with the onset of the monsoon and less lucrative exports, the domestic steel prices should begin easing and move towards Rs 60,000 per tonne by March 2023, down from the Rs 76,000 per tonne, which will be well above the pre-pandemic levels. Adukia said that steel companies are now forced to import coal as Coal India Limited (CIL) is not lending its ears to their demand. He said that if coal prices in the international market do not drop, then 30%-40% of the secondary steel units will have to scale down production or close down. There are about 65 secondary units in West Bengal, with one lakh employment. Image Source Also read: India exports 13.5 mt finished steel worth Rs 1 lakh cr in FY22

Next Story
Infrastructure Energy

Waaree Acquires 64 Per Cent in Kotsons for Rs 1.92 Billion

Waaree Energies Limited, India’s largest solar module manufacturer, has acquired a 64 per cent equity stake in transformer manufacturer Kotsons Private Limited for Rs 1.92 billion, the company announced on Tuesday. The acquisition makes Kotsons a subsidiary of the Mumbai-headquartered renewable energy firm.The strategic move is aimed at bolstering Waaree’s position in the integrated clean energy value chain. The capital infusion will support the expansion of Kotsons’ manufacturing capacity at its existing facility in Alwar, Rajasthan, which currently produces 4,000 MVA worth of transform..

Next Story
Infrastructure Energy

India’s RE Investments Hit $1.23 Billion in August 2025

Investments in India’s renewable energy (RE) sector surged to $1.23 billion (approx. Rs 102.2 billion) in August 2025, marking a 45 per cent increase from $848 million (approx. Rs 70.4 billion) recorded in the same month last year, according to a report by JMK Research.The sharp rise in funding reflects sustained momentum in the clean energy space, particularly in solar, wind, and battery energy storage systems (BESS).Among the largest investments in August was a Rs 31.84 billion long-term project financing secured by Acme Hybrid Urja, a subsidiary of ACME Solar, from REC Ltd. The funds will..

Next Story
Infrastructure Energy

WRI, CII Launch Alliance to Drive Clean Energy in Industry

WRI India and the Confederation of Indian Industry (CII) have jointly launched the CI-NERGY Alliance – Steering Energy Transitions to accelerate clean energy adoption within India’s commercial and industrial (C&I) sector. The initiative was unveiled during Connect Karo 2025 in New Delhi.The alliance seeks to support India’s broader climate goals—achieving 50 per cent of power capacity from non-fossil fuel sources by 2030, and net zero emissions by 2070. Given that the C&I sector is among the highest electricity consumers in the country, its decarbonisation holds substantial pot..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?