Data Monitor: Steel demand at an all-time high in January

By: |
February 22, 2021 8:38 AM

Domestic crude steel production rose 7% y-o-y (2% m-o-m) to 9.98 mt in the month.

steel demand, steel export, steel import, doestic steel consumptionStrong domestic demand and low finished steel inventory is expected to support domestic steel prices.

India’s domestic steel consumption rose 9% y-o-y (3% m-o-m) to 9.97 mt in January, the highest-ever monthly consumption. Declining exports and rising imports further indicated a strong rebound in domestic demand.

Domestic crude steel production rose 7% y-o-y (2% m-o-m) to 9.98 mt in the month.

 

Strong domestic demand and low finished steel inventory is expected to support domestic steel prices, Motilal Oswal has said.

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