It’s a known factor that the daily price of steel fluctuates based on numerous factors. In India, the price of steel ingot per kg usually ranges between ₹40-₹60 per kg, based on numerous factors. As such, when we consider MS ingot rate in Mandi Godindgarh (Punjab) as compared to other cities and states, there’s difference in pricing, mainly due to location, transportation costs, local demand, and steel production capacity. Let’s take a look at Mandi Gobindgarh ingot price to understand price trends and dynamics to make informed decisions regarding buying and selling steel ingots in India.

Mandi Gobindgarh ingot price

Before delving into Mandi Gobindgarh as the steel powerhouse in Punjab, here’s a quick look at Mandi Gobindgarh ingot rate for your reference.

Ingot price in Mandi Gobindgarh – Jan 2024 – Sep 2023 (price trends)

*Prices are indicative and subject to change. Prices not inclusive of GST, transport, freight and other charges. Price changes by supplier, location and other factors. Check with your seller for final price of steel ingot.

As can be seen from the ingot price chart shared in the table above, Mandi Gobindgarh ingot rate has been dynamic. Ingot steel rates were higher in 2023 (Q3) when compared to the rates in January 2024 (Q1). This can be attributed to many factors, mainly government policies, regulations, exports, local demand among others.

Also read: Mandi Gobindgarh steel rates today – for MS billet, steel scrap price per kg

Ingot price today – Mandi Gobindgarh and other cities

The iron and steel industry is one of the key sectors in India. India is the second largest producer of crude steel with 900+ steel plants in the country. Steel plants are mostly found in clusters with Bhilai, Vizag, Bokaro and Rourkela being among the most prominent clusters. Top states as such include steel plants in Odisha, Jharkhand, Chhattisgarh, Tamil Nadu, Karnataka, Maharashtra, West Bengal and Andhra Pradesh.

Mandi Gobindgarh is the exception and stands out as a prominent hub for steel in the norther state of Punjab.

Known as the steel city of Punjab or ‘loha mandi’ is a prominent industrial hub for steel in India. The city is known for producing various categories of steel namely steel scrap, steel ingot, steel billet, finished goods including TMT, angle, channels, among others. Mandi Gobindgarh’s reputation as a steel powerhouse stems from its high-quality steel production, market reputation, and contribution (along with the city of Ludhiana) to Punjab’s industrial growth.

There are different types of steel ingots in the market today. Mild steel ingots are the most commonly found type at Mandi Gobindgarh. Carbon steel ingots, with 0.6% to 2% carbon content is the most popular type.

Other categories include:

• Alloy steel ingot
• Stainless steel ingot
• Tool steel ingot
• Electrical steel ingot

Note: Common grade alloy steel and stainless steel ingots are more popularly used in manufacturing, construction, oil and gas, and other sectors. Pricing is determined by the grade of ingot being used and sector.

• Alloy steel ingot price per kg – ₹85 – ₹280 per kg (approx.)
• Stainless steel ingot price per kg – ₹105 – ₹300 per kg (approx.)

Steel ingot price list – Pan India

A commonly asked question at this point would be, how does the Mandi Gobindgarh ingot price compare with the price range across the country. Let us have a look.

Daily ingot price list

Also read:

• Steel prices in Chennai – Flats, longs, structurals
• Daily steel price in Ahmedabad
• Steel price in Bangalore per kg – TMT bars, channels, angles, HRC, CRC, beams
• Steel price in Hyderabad today – Coils, channels, beams, angles, TMT

Why buy ingots at Mandi Gobindgarh?

All through 2023, price of steel and other raw materials has been volatile. However, considering government spendings on infrastructure projects and real estate growth, the demand for steel has been on a steady rise.

In such a volatile environment, Mandi Gobindgarh has stood out as a preferred destination for the purchase of steel. Factors include:

• Concentration of prominent steel manufacturers and suppliers, offering a wide variety of steel products
• A centralised market acting as a hub for procuring all grades and types of steel at competitive rates
• Adherence to quality standards that keep up with expected international quality norms
• Efficient transportation system enabling businesses to move products easily through preferred form of transportation
• A rich industrial ecosystem ensuring buyers and sellers have the right platform to buy and sell their products competitively

The new way of buying steel

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Buying steel can be challenging if not done systematically. From checking the quality of steel, to the reputation and reliability of the supplier/manufacturer, taxes, freight and transport cost and others, buying steel comes with its own challenges.

So, whether you are looking at buying steel ingot or any other, take the right step to procure steel.

Author: Sohini Banerjee

Sohini is a seasoned content writer with 12 years’ experience in developing marketing and business content across multiple formats. At Tata nexarc, she leverages her skills in crafting curated content on the Indian MSME sector, steel procurement, and logistics. In her personal time, she enjoys reading fiction and being up-to-date on trends in digital marketing and the Indian business ecosystem.