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    Table of Contents

    Steel ingots are solid blocks or shapes of pure steel obtained by casting molten steel into a mould to solidify. Usually, these ingots serve as raw material for various manufacturing processes such as forging, rolling, or machining. Steel ingots come in different shapes and sizes. Their shape and sizes depend on their intended use in the production of steel products. Steel ingot prices vary as per the location. This article lists the pricing of steel ingots in various Indian locations.

    Steel ingot prices – as per location

    Following is the approximate pricing of mild steel ingot as per location.

    Steel ingot price in… City Price per ton
    Chhattisgarh Raipur Around ₹39,800
    Raigarh Around ₹39,500
    Goa Goa Around ₹41,600
    Gujarat Ahmedabad Around ₹42,500
    Bhavnagar Around ₹42,800
    Himachal Pradesh Himachal Around ₹41,900
    Jammu & Kashmir Jammu Around ₹43,900
    Madhya Pradesh Indore Around ₹43,000
    Maharashtra Mumbai Around ₹42,400
    Odisha Rourkela Around ₹39,300
    Punjab Mandi Gobindgarh Around ₹42,900
    Ludhiana Around ₹44,300
    Rajasthan Bhiwadi Around ₹42,000
    Jaipur Around ₹41,500
    Telangana Hyderabad Around ₹41,600
    Uttar Pradesh Ghaziabad Around ₹42,700
    Kanpur Around ₹42,300
    Muzaffarnagar Around ₹42,000
    West Bengal Durgapur Around ₹39,200
    Kolkata Around ₹39,700

    Note: Prices are not to be considered as a final rate. GST, transportation and freight charges are not included.

    Steel ingot prices – as per material

    Type of steel ingots Price per kg
    Mild steel ingots Approximately ₹ 40/Kg
    Stainless steel ingots Approximately ₹ 60/Kg
    Silver square stainless steel 304 Ingot Approximately ₹ 105/kg
    Alloy steel ingots Approximately ₹ 100-250/kg

    Note: Prices are not to be considered as a final rate. GST, transportation and freight charges are not included.

    Top manufacturers

    Here are some of the leading manufacturers of steel ingots in India.

    • SAIL
    • Tata Steel
    • Subhlaxmi Special Steel
    • Ess Ess Steel Castings and Rolling Mills Pvt. Ltd.
    • Kesri Alloys
    • Bansal Alloys & Metals (P) Ltd.
    • Kisco Castings India Limited
    • Jay Jagdamba Limited
    • Ambica Steels Limited
    • Nami Steel

    Use of steel ingots?

    As mentioned before, steel ingots are used for various purposes. Often, steel ingots are one of the steps in the steelmaking process before further refining and shaping into finished products such as sheets, rods, bars, or beams. Here is how different shapes of ingots are used for different purposes.

    Ingot shape/type Use
    Square cross-section ingots Forging, rolling into rails, billets or structural sections
    Round ingots Manufacturing of steel pipes and tubes
    Mild steel ingots The automobile industry uses mild steel ingots different auto parts such as engine components, chassis, body panels,
    Alloy ingots Oil and gas industry, construction industry
    Carbon steel ingots For machine building, tools, etc.
    Stainless steel ingots Manufacturing numerous equipment in industries such as marine, food processing, medical equipment, etc.

    Factors influencing steel ingot prices

    Numerous factors influence the pricing of steel ingots. Here are some of the factors that influence steel ingots:

    Production cost: Like all other manufactured products, one of the most considered factors is the production cost. The cost of raw materials, other factory costs, transportation and so on impact the production cost and subsequently price of steel ingots.

    Cost of raw material: One of the main factors influencing steel ingot pricing is the cost of raw material. The cost of materials such as iron ore, coal, and other alloying materials may fluctuate often and impact the cost of ingots.

    Demand and supply: Another factor that influences pricing is demand and supply. Higher and lower demand from industries such as construction, automotive, etc., impact the prices of steel ingots.

    Apart from the mentioned above, steel ingot pricing is impacted by government regulations, global economic conditions, technological advancements, environmental regulations, etc., and also impacts steel ingot pricing.

    How to procure steel ingots?

    Understand and define your needs. The requirement of steel ingots differs as per its following application. According to its further application, specify your requirements and select the right kind of steel ingots.

    Moreover, bulk orders attract more discounts. You stand in a better position to negotiate. Therefore, you can get a cost advantage by placing a bulk order.

    If you are looking to buy high quality steel, you can approach Tata nexarc. Our platform hosts several verified vendors offering a wide range of steel products at competitive prices. Simply post your needs and receive quotes from these vendors. Select the quote the suits you the best. Explore now.

    Conclusion

    As mentioned earlier, steel ingots are available in various materials, sizes and shapes. Hence, it is important to understand your requirements, approach multiple vendors for competitive pricing and get high-quality products.

    Swati Deshpande

    Swati is a passionate content writer with 6 years of experience crafting content for the business and manufacturing sectors, and helping MSMEs (Micro, Small and Medium Enterprises) navigate complexities in steel procurement, and business services. Her clear and informative writing empowers MSMEs to make informed decisions and thrive in the competitive landscape.