Industry News

Steel prices firming up on strong domestic demand, spike in raw material prices, says Kotak

Views : 176
Update time : 2023-09-26 16:46:39
Steel prices in India have started firming up with long/flat prices up 10 per cent/ 4 per cent in the past two months, said a report by Kotak Institutional Equities. The price strength, it added, is led by strong domestic demand and the recent spike in raw material prices. “Weaker monsoon and seasonal restocking tightened the domestic market and allowed price hikes, notwithstanding sluggish regional prices,” the report said. Seaborne iron ore and coking coal prices have spiked in the past one month due to demand recovery and supply issues. “We expect steel margins to firm up in the near term, but cost inflation would require further price hikes to sustain margins,
Related News
Read More >>
ArcelorMittal sells Bosnian operations to Pavgord Group ArcelorMittal sells Bosnian operations to Pavgord Group
Jun .24.2025
ArcelorMittal sells Bosnian operations to Pavgord Group
Global stainless steel output rises in Q1 Global stainless steel output rises in Q1
Jun .24.2025
Global stainless steel output rises in Q1
India to impose AD duty on aluminum foil from China India to impose AD duty on aluminum foil from China
Jun .24.2025
India to impose AD duty on aluminum foil from China
US to maintain AD & CVD duties on steel threaded rod imports US to maintain AD & CVD duties on steel threaded rod imports
Jun .24.2025
US to maintain AD & CVD duties on steel threaded rod imports