A weakened Asian order book and competitively priced Chinese offerings saw Indian steel exports take a hit in May, down by 42% over the same period last year. Finished steel exports in May were around 6,82,000 tonnes, flattish on a month-on-month basis. In April and May, exports declined 35% (y-o-y) to 13,58,000 tonnes. Steel exports…
The rupee depreciated 9 paise to 79.03 against the U.S. dollar in opening trade today, as consistent foreign funds outflows weighed on investor sentiments. Forex traders said the weakness of crude oil prices is supporting the local unit. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was at…
Maruti Suzuki India (MSIL) said on Thursday that it is conscious of its market share falling and to fix that it will introduce new and right products. The company’s overall share in the Indian passenger vehicle market had come down to 43.4 percent in FY22 from nearly 50 percent earlier, mainly due to decreasing sales…
Reinforced steel bar prices, also called rebars, have raised up ₹2,000 per tonne since last week on the back of active buying and improved spot demand. However, trade sources said, there has been some slowdown from Wednesday onwards with limited buying in select markets but prices have been stable at around ₹53,000–55,000 per tonne. Price…
