- Tata Steel, JSW Steel, and SAIL raised steel prices by Rs 500-1,500 per tonne today
- Tata Steel increased prices for HRC, CRC, and TMT bars by Rs 500-1,500 per tonne
- JSW Steel hiked prices for HRC, CRC, GP, PPGI, and WR steel by Rs 600-1,350 per tonne
Tata Steel, JSW Steel and Steel Authority of India Ltd. (SAIL) have announced price increases across several steel product categories, effective today, according to channel checks by NDTV Profit. The hikes range from Rs 500 to Rs 1,500 per tonne, depending on the company and product segment.
Tata Steel has increased prices of hot-rolled coils (HRC), cold-rolled coils (CRC) and thermo-mechanically treated (TMT) bars by Rs 500-1,500 per tonne.
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JSW Steel has raised prices across HRC, CRC, galvanised pipe (GP), pre-painted galvanised iron (PPGI) and wear-resistant steel (WR) segments. The increases range from Rs 600 to Rs 1,350 per tonne.
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SAIL has announced a uniform price hike of Rs 600 per tonne across its flat steel products. These include polyethylene terephthalate (PET) products, CRC, HRC, coated steel and plate mill plates (PMP).
The latest increases follow another round of price hikes in October, when steel companies raised prices by Rs 2,000-2,700 per tonne. That was the third consecutive monthly increase, supported by resilient demand and higher input costs.
Rising Input Costs Drive Steel Price Increases
The latest round of increases comes amid higher costs of key raw materials and transportation. In addition, higher domestic fuel and power costs have added to the pressure. According to data sourced from BigMint, an online market intelligence platform, HRC prices have risen to Rs 64,700 per tonne from Rs 62,000 in September. The increase reflects the cumulative impact of the price revisions over the past few months.
Domestic Steel Demand Remains Resilient
The price hikes come even as concerns over broader macroeconomic inflation persist. Domestic steel demand, however, remains resilient, supported by government-led infrastructure spending and activity in the urban real estate sector. India continues to outperform several major global markets, with steel consumption projected to grow by nearly 7.9%.
While higher prices could lead to short-term volume deferrals in price-sensitive retail segments, demand from institutional buyers and infrastructure-related projects has remained relatively firm.
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