Several key factors have worked in favor of steel industry in India over the past few months. Here is an analysis of five among those factors.
The Chinese market has been hampered by ailing property market and lack of mobilization due to people forced to stay at their homes due to rising cases of Covid-19 cases in the country. The government’s focus on these two issues have brought about drastic changes, which in turn has benefited the steel industry as well. As a result, the HRC prices, after falling from its peak of $860 per tonne during early-2022 to nearly $500 per tonne, have again rebounded to levels of $620-$630 per tonne.
