There are several factors that can affect steel prices in India. Some of the most important ones include:

Global market conditions: The price of steel is influenced by global market conditions, including supply and demand dynamics, economic growth, and trade policies.

Raw material prices: The price of steel is largely determined by the prices of its raw materials, such as iron ore, coking coal, and scrap steel. Fluctuations in the prices of these materials can have a significant impact on steel prices.

Production costs: The cost of production can also affect steel prices. For example, higher energy costs can increase the cost of producing steel, which can in turn lead to higher steel prices.

Government policies: Government policies, such as import tariffs and export controls, can also affect steel prices in India. For example, if the government imposes tariffs on imported steel, it can make domestic steel more competitive, which can lead to higher prices.

Competition: The level of competition in the steel market can also affect prices. If there is a lot of competition, companies may be forced to lower their prices in order to remain competitive.

Overall, the price of steel in India is influenced by a complex mix of factors, including global market conditions, raw material prices, production costs, government policies, and competition.