GENERAL22 Sept 2026
Domestic steel prices hit four-year high, trend to continue in H2: Report
Domestic steel prices have touched a four-year high, says BigMint, as coking coal and iron ore costs rose and post-monsoon demand picked up. Hot rolled coil, or HRC, now trades near ₹64,000 a tonne, with CRC at ₹75,000. Since August 1, both jumped sharply, and the firm expects no cooling this fiscal. Steel feeds autos, appliances and construction, so your input costs may rise.
Key Statutory Highlights
- Hot rolled coil (HRC) and CRC are trading at ₹64,000 per tonne and ₹75,000 per tonne, levels last seen in June 2022.
- Coking coal, mostly imported, has risen by around $65 per tonne to $305 per tonne in just one month, and it alone adds over 30 per cent to steel production cost through the blast furnace route.
- India's steel consumption reached 70 MT in April-August FY27, a 7 per cent year-on-year rise.
Actionable Advice for Taxpayers / Founders:If steel is a key input for your business, review your purchase contracts and pricing now, since higher steel costs can push up vehicle, appliance and construction costs. Check with your supplier or CA before committing to fixed-price orders, as the report expects prices to stay firm.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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