Latest Steel Prices (as of 29.07.2025)
Current Steel Prices (as of July 29, 2025):
- India’s Steel Price (Overall): Opened at ₹40,200.00 per tonne and is showing a declining trend of 0.25%.
- Mild Steel (MS) Ingots (Mandi Gobindgarh): No premium/discount for August 2025, September 2025, and October 2025 contracts on NCDEX.
- Mild Steel (MS) Billets (Mandi Gobindgarh): +₹400/Tonne premium for August 2025, September 2025, and October 2025 contracts on NCDEX.
- TMT Bars (Hyderabad – indicative prices):
- Fe 500D (8mm): ₹58,500/MT
- Fe 500 (8mm): ₹57,900/MT
- Fe 550 (8mm): ₹59,200/MT
- Hot Rolled Coil (HRC): In India, as of January 2025, prices were around ₹47,000/tonne.
- Cold Rolled Coil (CRC): In India, as of January 2025, prices were around ₹53,500/tonne.
Market Trends and Factors Affecting Prices:
- Decline in India: Overall steel prices in India have been on a declining trend recently, with the price on July 21, 2025, at ₹40,200.00, down from ₹41,000.00 on July 4, 2025.
- Global Oversupply: Market data indicates flat or minor drops in Hot Rolled Coils (HRC) due to global oversupply.
- Raw Material Costs: Fluctuations in the cost of raw materials like iron ore and scrap metal directly affect steel prices.
- Demand and Production Capacity: The balance between supply and demand, as well as production capacity, are key influencers.
- Government Initiatives: The Indian government is working on mandating green steel public procurement, which could influence future prices and production methods.
- Trade Deals and Tariffs: Ongoing trade negotiations and tariff decisions (e.g., between the US and EU) can impact global steel markets.
- Indian Engineering Exports: Higher shipments of iron and steel contributed to positive growth in Indian engineering goods exports in June 2025.
- Odisha Steel Capacity: Odisha’s crude steel capacity has increased by 6.15 million tonnes over the last five years, reaching 31.48 MT.
- Vidarbha as Steel Hub: There’s optimism that Vidarbha (Nagpur region) may emerge as a steel hub for Asia in the coming decade due to iron ore mining pushes.