Local steel prices may fall further on China exports

At around Rs 57,000 per tonne, prices of hot-rolled coils in May are down by nearly 3-4% from April, and over 17% lower year on year. Steel mills are likely to reduce prices or offer discounts of ₹1,500-2,000 per tonne in June as they look to push volumes, industry watchers said.

30/05/2023

China, which accounts for 57% of the global production of steel, exported 7.3 million tonnes of steel in April, not only 82% higher than a year earlier but also higher than those in the month of April during 2017-2020, and only marginally lower than 7.97 mt exports in April 2021.

MUMBAI: Steel prices in the domestic market, which have been under pressure since late March, may fall further after a sharp surge of exports from China at lower prices that is seen undercutting exports from India amid weakening global demand.

At around Rs 57,000 per tonne, prices of hot-rolled coils in May are down by nearly 3-4% from April, and over 17% lower year on year.

16/03/2025

Qaenat steelmaking project and Completion of the main phase

One of the most important stages of the Qaenat steelmaking project has been successfully completed. In this stage, the testing and ...

10/09/2024

Acquiring the technical knowledge of manufacturing different grades of nano silica with the ability to be used in industries

He called the other produced product "precipitated silica" and added: The components of these materials are nanometer, but they stick ...