The rise in the cost of cold-rolled steel in India is linked to several factors that affected the market from April 18 to April 25. According to the analytical company Kallanish, the supply in the market increased in price by $10 per ton, reaching $685 FOB. This is due to the introduction of a protective import duty of 12% on steel from other countries starting April 21, which restricts the supply of cheap steel from the Southeast Asian region and allows local producers to dictate terms.
This is reported by Business • Media
Additionally, the price was influenced by reduced supply due to production facility shutdowns. Specifically, the JSW Steel plant in Dolvi cut production by approximately 40-45%, or by 120-130 thousand tons per month. The Tata Steel plant in Jamshedpur halted its blast furnace for two months in March for repairs, removing another 200-250 thousand tons of rolled products from the market. Demand for cold-rolled products in the Indian automotive industry remains high: from January to March 2025, new car sales in the country increased by 2.4% compared to last year, totaling 1.162 million units.
Since April 1, leading automakers in the country have raised prices to offset rising costs, particularly for steel procurement for the automotive industry. According to representatives of the Society of Indian Automobile Manufacturers (SIAM), the two-step reduction in the Reserve Bank of India’s base rate and the decrease in income tax in the 2025-2026 financial year will stimulate consumer purchasing power and support demand.
Cold-Rolled Coil Prices in the USA and Europe
In Japan, the price of cold-rolled coil remains stable at $620 per ton FOB as of April 28. In the North European region, the supply from April 18 to April 25 held steady at €725 per ton EXW, which is €15 higher than at the beginning of the month. Traders note low buyer activity in Europe due to the Easter celebrations and report that the EU automotive industry has yet to support the increase in demand for rolled products.
According to the European Automobile Manufacturers Association (ACEA), from January to March of this year, new car registrations in the European Union decreased by 1.9%, totaling 2.725 million units. In the USA, cold-rolled coil prices remained unchanged in April at $1,162 per ton EXW. Earlier reports indicated the beginning of a price decline for hot-rolled coil in the North American market, and it is possible that cold-rolled coil prices may also decrease as early as May.
In light of these events, the Ministry of Finance of India approved an additional import duty of 12%. At the same time, the duty will not apply if the price of imported steel falls below the established threshold, creating additional conditions for market regulation and protection of domestic production.