29
May
15:36
ICRA sees Indian steel prices falling this fiscal
Indian domestic steel prices are expected to fall 4-5% on-year in the fiscal year ending 31 March 2024 (FY24). The fall in steel prices will be primarily driven by extraneous factors, especially the waning effect of pent-up demand in China in the first fiscal quarter, rating agency ICRA says in its latest report seen by Kallanish.
"The Chinese domestic oversupply led to the twin effects of Chinese HRC [hot rolled coil] export offers sliding to $550/tonne at p…
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Anonymous
Very good overview of the weekly steel market.
Anonymous