Indian steel prices hit record lows
China factor, geopolitics erode prices, steel demand. Import surge, keeps domestic prices under check. India demand may sustain in CY'24 amid challenges.
Indian steel prices are grovelling at record lows. BigMint's data reveals that the benchmark trade-level hot-rolled coil, exy-Mumbai is scraping the bottom of the barrel.
In 2024's price averaged INR 52,267/tonne ($623/t), which is more than a three-and-a-half year low, since the level that comes closest.
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