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Steel prices hiked again amid rising exports
Business Standard
|January 19, 2026
The imposition of safeguard duty, an uptick in exports, and an increase in input cost are driving steel prices higher.
The latest round of price increase took place on Friday, with some steel mills increasing hot-rolled coil (HRC) prices by ₹500-750 a tonne, according to price reporting and market intelligence firm Big-Mint. HRC is a benchmark for flat steel.
"This is the second price hike this month; other mills are also expected to follow suit," Hemant Dewangan, analyst at Big-Mint said.
With this, the list price of HRC has increased by ₹3,000-5,250 a tonne since the middle of December to ₹50,500-51,750 a tonne from various mills. At the trade level (distributor to dealer), HRC prices increased by about ₹6,000 a tonne to ₹52,000 a tonne as on Friday.
Multiple factors have led to the price push. "Steel prices are rising due to cost pressures from higher imported met coke prices, compounded by a weak rupee. Policy support from safeguard duty, tight availability of long products and strong export orders have further lifted prices," Dewangan explained.
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