Domestic steel prices rebound, but there are risks
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Update time : 2022-10-11 17:06:44
Steel prices in domestic markets are regaining their lost shine, albeit gradually. One factor aiding prices is production cuts, which has resulted in falling inventory levels.
"We note that hot-rolled coil (HRC) prices rose by 71,000 per tonne to $57,500 per tonne while cold rolled coil (CRC) prices increased by $500 per tonne to 766,200 per tonne on reduced inventory levels in last week of Sep-2022," said analysts at Nomura Financial Advisory and Securities (India) in a report on 10 October. "But for the week ending 7 Oct-22 prices have been stable (channel inventory has halved month-on-month, according to
SteelMint)," said Nomura analysts.
