Domestic steelmakers raise prices after safeguard duty

Steel price increases are expected to support the profitability of Indian steelmakers

- Dipali Banka

Within a week of the finance ministry imposing a safeguard duty on steel imports, domestic steelmakers raised prices across key products in early January.

Prices of hot-rolled coil (HRC) and cold-rolled coil (CRO) were increased by 2-4% on 3 January, after a 1.5-3% hike in late December 2025, according to commodities market intelligence firm Big Mint. Rebar prices were raised by 3-6% in early January, following a hike of around 4% in late December.

The increases are expected to support the profitability of domestic steelmakers that are in the midst of significant capacity expansion, after subdued pricing over the last three months weighed on margins, analysts said.

The safeguard duty, announced on 30 December 2025, would be levied for three years on most grades of flat steel products at 12% for the first year, 11.5% for the second and 11% for the third year. India had notified an interim order imposing the duty in April to halt the surge in imports, which had lapsed on 7 November.