Daily steel price in India – Steel rates today per kg/tonne – Cost of TMT bars, channels, angles, hot rolled coils (HRC), sheets

• Prices are indicative – Not to be considered as a final rate
• Price: Ex-yard
• GST, Packaging, Loading, Freight charges are not included
• Rs. 500 extra for cutting to length of 2,000 mm or higher on coils

Steel price chart India 

As stated previously, steel prices fluctuate. As a business owner looking to procure and buy steel online, it’s important to know steel price today in India by kg/tonne.

Check the latest steel market price table listed above for your reference.To know more about specific steel suppliers, steel price per tonne/kg, steel metal price in Mumbai, Pune, Chennai, and other cities, or any other detail contact our team at nexProcure today. 

You can find the best deals and offers on TMT bars, hot rolled coils (HRC), steel channels and angles, galvanised/galvanized steel, steel sheets, and more easily on nexProcure (Connect with us on WhatsApp). 

Why are steel prices increasing in India? 

Steel prices in India has witnessed steep fluctuations over the last few months, with cost of steel metal rising by over 5% in February 2023. The change in daily steel price is triggered by multiple factors including rise in domestic demand and exports, and increasing cost of other raw materials (especially coking coal and iron ore, and also nickel).

With a Y-o-Y growth at 5% CAGR, steel production in India has been scaling with demand across construction, manufacturing, aviation, automotive, railways and other sectors, resulting in changing daily steel price updates.

Steel price per kg/tonne in India differs across cities and states, brands, manufacturers, wholesalers, suppliers and other factors. 

Since July 2020, steel market price has been fluctuating, with FY21 witnessing a staggering 55% hike in steel rates.

The price of hot-rolled coil (HRC) surged to ₹60,000 per tonne (its highest in 13 years), while cold rolled coils (CRC) price touched ₹89,000 per tonne in Mumbai (wholesale), and price of TMT bars approximated at ₹56,000 per tonne (June 2021). Multiple global market forces and conditions especially China’s import-export updates, increase in the prices of iron ore, impact of the pandemic etc. affected steel metal price. (Source: Times of India industry quote, The Hindu BusinessLine).

Several industries and businesses were impacted by the changes in the steel price graph. Automotive manufacturers for instance had to surge vehicle prices to maintain profits. Similarly, steel price hike had a ripple effect on related industries including manufacturing, infrastructure development, and real estate. Though domestic steel rates in India are considerably lower than its global counterparts, it is a matter of concern for all businesses.

What is the price of TMT bars in India? 

There are minor changes in steel TMT bars daily rates. It is also different across states and cities (based on GST and other taxes) and manufactures and brands (who include their profit margin). There is also the cost of transportation and freight to be added. Considering that TMT steel bars are used across multiple sectors for their higher elongation, greater weldability, resistance to corrosion and heat, it’s helpful for you to know the price of TMT bars today.

Also Read: Types of TMT Steel Bars

TMT bars price list per kg in India (March 2023) 

 *Prices are indicative and subject to change. Buyers are requested to contact at nexProcure for latest TMT bar price range available from different manufacturers, suppliers, wholesalers. For more details on TMT bar size and grade (e.g., Fe 415, Fe 500, Fe 550, Fe 600) get in touch now. GST + freight additional.