China’s export prices fall, domestic steelmakers vulnerable despite protective walls

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Published: October 23, 2019 2:07:34 AM

Even the anti-dumping duty (applicable when landed price of imports falls below $489) may prove to be insufficient to arrest the fall.

Clearly, market forces require local steel firms to pull up their socks and cut costs to shore up profitability in local and export markets.

India’s domestic steel prices* plunged to a 34-month low of Rs 34,250/tonne (~$476/tonne) last week, reflecting weak demand conditions. Even the anti-dumping duty (applicable when landed price of imports falls below $489) may prove to be insufficient to arrest the fall. While local steel firms have stepped up exports in recent months, Chinese exports are likely to dent their edge. Clearly, market forces require local steel firms to pull up their socks and cut costs to shore up profitability in local and export markets.

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