Domestic steel prices likely to rise in March quarter
January 03, 2026
|Business Standard
The Ministry of Finance announced the extension of safeguard duties (SGD) until April 2028, ending policy uncertainty.
SGD will have tapering rates of 12 per cent till April 2026 then 11.5 per cent till April 2027 and then 11 percent till April 2028.The SGD raises the price floor but weak export markets and near-term supply pressure put a ceiling on steel prices. The SGD includes hot rolled or HR coils, sheets and plates, HR plate mill plates, cold-rolled coils (CRC) and sheets, metallic and colour-coated steel coils and sheets. It excludes electrical steel, tinplate, stainless steel, and alu-minium-coated steel.
Provisional Joint Plant Committee (JPC) data indicates domestic finished steel consumption grew 7.4 per cent year-on-year (Yo-Y) to 105.2 million tonnes (mt) during April-November of 2025. Finished steel imports declined by 36.3 per cent Yo-Y during April-November of 2025.
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