Steel prices to rise further in India: Here's why
Steel is about to get pricier in India, thanks to rising tensions in West Asia driving up raw material and shipping costs.
Compared with November 2025, hot-rolled coil prices are up about 23%, and experts expect another ₹1,000 to ₹2,000 per ton increase soon.
Sectors like automotive may push back against these hikes, but the pressure on prices isn't letting up.
Steel producers struggling with gas supply cuts
MSME steel producers (micro, small and medium), which account for nearly 40% of India's steel output, are struggling with major gas supply cuts in states like Punjab and Maharashtra.
The Indian Steel Association has asked the government for help as fuel shortages disrupt operations.
On top of that, diesel prices have doubled, making mining and transport even costlier. All this means steel prices are likely to stay high for a while.