Tata Steel CEO T.V. Narendran stated that Indian steel prices hit a five-year low in 2025 despite strong domestic demand. He attributed this to global trade disruptions, protectionist measures by various countries, and a surge in Chinese steel exports due to China's economic slowdown. While Tata Steel's domestic operations were resilient, its European business faced pressure. Narendran noted that excess global supply made exports difficult for Indian producers, leading to prices falling below international levels.