Steel prices hit a five year low as margins sink and recovery slips to 2027

Dumping pressure could decide whether profits hold

India’s steel sector is stabilising after a slump, but the outlook stays weak as hot-rolled coil prices fall to a five-year low, compressing margins. Earnings at major producers have deteriorated, and a meaningful recovery is not expected until 2027. The industry is banking on steady demand, stable raw-material costs, and extended safeguard duties to curb dumping.