According to a survey by Kotak Institutional Equities, steel prices in India have started to firm up, with long/flat prices rising 10%/4% over the previous two months. The firm domestic demand and the most recent jump in the price of raw materials, it was stated, are driving the price strength. “Weaker monsoon and seasonal restocking…
According to the World Steel Association (World Steel), India’s crude steel production increased by 4.1 percent to 11.2 MT in May 2023, despite a 5.1% decline in global output to 161.6 MT. Chinese crude steel production in May totaled 90.1 MT, maintaining its position as the world’s top producer of steel despite a 7.3 percent…
In October, for the second time this fiscal year, India became a net importer of steel due to lower-cost options in the downstream industry, such as cold-rolled and coated goods, while exports significantly decreased in volume. According to information accessible with the Steel Ministry, steel imports totaled 5,93,000 tonnes in October, compared to exports of…
