Automakers are facing the double whammy of rising input costs and freight charges due to the ongoing West Asia crisis, which could push them to raise prices, potentially derailing the demand rally seen after GST cuts last September.
Prices of HR steel rose 13% year-on-year (YoY) to a 12-month high of ₹59,900-61,200 per tonne in April. CR steel touched ₹65,600-67,300 per tonne, up from ₹58,000-59,400 in April 2025, according to the Society of Indian Automobile Manufacturers' (SIAM) Commodity Price Monitor for April, accessed by ET.
Pig iron, stainless steel, steel scrap, iron ore, virgin aluminium, nickel, zinc, polypropylene, polycarbonate, urea (prilled), natural rubber are among 20 commodities whose prices have peaked in the last one year, affecting manufacturing costs across companies.
