Domestic steel prices are at historical highs (HRC at Rs 66,000-67,000/t), despite demand being impacted as a result of local lockdowns across several states in view of the COVID-19 surge.
Steel consumption at 6.72mnt in Apr-21 was down 26% m-m (up 516% y-y) due to demand in key segments like auto and consumer durables being hit.
Consequently, crude steel production at 7.96mnt (up 142% y-y) was down 21% m-m in April.