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.

18/08/2024

Khorshid Alayazh Tehran Co., is the official representative of Iran Ferosilis Co.

This company is the official representative of Iran Ferosilis Co. and provides the products required by various industries by taking ...

20/04/2024

Kazakhstan increased steel production by 13.4% y/y in March

During the month, the country's steel enterprises produced 357.11 thousand tons of steelIn March 2024, steel enterprises of Kazakhstan increased steel production by 13.4% compared to March 2023, up to 357.11 thousand tons. This is evidenced by the data of the Statistical Committee of the Ministry of Economy of the country, Kallanish reports.