India Sees Lowest Steel Prices in 5 Years, Tata Steel CEO Says

India’s steel sector faced a sharp pricing paradox in 2025, with domestic steel prices falling to their lowest level in the past five years despite strong demand and sufficient supply, Tata Steel CEO and Managing Director T V Narendran said.

Addressing employees at a New Year function, Narendran said the year was challenging due to intensifying global trade disruptions and protectionist policies adopted by several countries.

“More and more countries are protecting themselves to ensure materials do not flow easily across borders. As a global industry, we have to deal with the consequences,” he said.

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Narendran noted that Tata Steel’s domestic operations were largely unaffected, but its European business came under pressure due to duties imposed on steel exports from Europe and the US.

He also highlighted the slowdown in China’s economy, especially in the steel-consuming construction sector, which resulted in elevated Chinese steel exports for the second consecutive year.

“China has been exporting more than 100 million tonnes of steel, almost equivalent to India's total steel production,” he said.

While Chinese steel was not entering India in large volumes, excess global supply made exports difficult for Indian producers. “As a consequence, a lot of capacities have been built up this year. While our steel demand and supply are strong, steel prices in India for most of the year remained well below international prices. We actually experienced the lowest steel prices in the last five years in 2025,” he said.