Steel prices continue upward trajectory

By: |
April 26, 2021 12:40 AM

Prices have gone up by ~59% y-o-y in the month (until April 16).

Roy said the ongoing second wave of the coronavirus makes demand outlook somewhat uncertain in the first half of FY22 while exports remain a viable alternative available to leading steel makers in India.Roy said the ongoing second wave of the coronavirus makes demand outlook somewhat uncertain in the first half of FY22 while exports remain a viable alternative available to leading steel makers in India.

Steel prices rose to historical highs in the week ended 16 April, 2021, in response to the global rise in steel prices.

Prices have gone up by ~59% y-o-y in the month (until April 16).

Crude steel production rose 19% y-o-y (7% m-o-m) to 9.7 mt in March. Steel consumption grew 41% y-o-y to 8.74 mt.

However, it declined 6% m-o-m in the month as companies looked to exports to benefit from strong global steel prices.

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