"Steel rate" means a different number for every product, grade, city and quantity. A TMT rate ex-Raipur, an HR coil rate ex-Jamshedpur and a scrap rate in Mandi Gobindgarh move on their own. This page is the map: how each product is quoted, which standard and HSN code it falls under, and what to check before you compare two quotes.
| Product | Usually quoted as | Indian standard | HSN | GST |
|---|---|---|---|---|
| TMT bars | Rs/MT, basic + size extra | IS 1786 | 7214 | 18% |
| HR coils / sheets / plates | Rs/MT, basic + thickness/width extra | IS 2062 | 7208 (7211 below 600 mm width) | 18% |
| MS angles, channels, beams | Rs/MT, basic + section extra | IS 2062 material, IS 808 sizes | 7216 | 18% |
| MS / GI pipes | Rs/MT or Rs per length | IS 1239, IS 3589, IS 4923 | 7306 | 18% |
| GI sheets and coils | Rs/MT by thickness and zinc coating | IS 277 | 7210 | 18% |
| Stainless steel | Rs/kg by grade and finish | IS 6911 and others | 7219 / 7220 / 7222 | 18% |
| Melting scrap | Rs/MT ex-yard, after deductions | Buyer specification | 7204 | 18%, reverse charge from unregistered sellers |
HSN and GST shown for the common forms of each product; your invoice must follow the exact description of the goods. GST on iron and steel stayed at 18% after the September 2025 rationalisation.
Most "cheap" quotes are cheap because something is missing. Before you compare, rebuild every quote to the same landed cost per tonne at your site:
On Indian Steel Portal you float one inquiry for any of the 20 product categories - grade, sizes, quantity, preferred makes, delivery city and payment terms. KYC-verified mills, stockists and traders quote against it in a live reverse auction with a minimum decrement and a soft-close, ranked L1 to L4 on landed cost. You award L1 or any ranked bidder, and the deal note - with GST, MTC and weighment terms - is generated for both sides.
Float an inquiry - freeSee the live marketplaceThere is no single steel rate. Each product - TMT, HR coil, angles, channels, beams, pipes, GI, stainless and scrap - is quoted separately, normally in rupees per tonne as a basic rate plus extras, freight and 18% GST. The quickest way to a real number is to float your exact requirement and let verified sellers quote.
Iron and steel products such as TMT bars, coils, sheets, sections and pipes attract 18% GST. Melting scrap is also at 18%, but when you buy scrap from an unregistered seller you pay the GST yourself under reverse charge.
Ex-works means the price at the seller's mill or yard - you arrange and pay for the truck. FOR (free on road) destination means the seller delivers to your site and the freight is inside the rate. Always compare quotes on the same basis.
Freight is a large part of the landed cost. A rate in a producing centre like Raipur or Mandi Gobindgarh is lower than the same product delivered in a consuming city hundreds of kilometres away.
No. The portal does not publish an index. Rates come from live quotes by verified sellers against your own inquiry, so the number you see is one you can actually buy at.
Last updated 8 October 2026. This page explains how prices are formed; it does not publish a rate. Live rates come only from quotes on the portal.
