 "Steel industry, Iron and steel industry")
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The infrastructure and construction segment is the biggest end-user of steel. | Photo: Bloomberg
Rising imports, coupled with limited export opportunities and seasonal weakness in demand, are weighing on steel prices.
According to market intelligence and price reporting firm BigMint, hot-rolled coil (HRC) prices have decreased by Rs 1,000 per tonne, now ranging between Rs 47,000-51,000 per tonne. HRC is a benchmark in flat steel.
The trade level represents the lowest point for the current financial year, and the market is showing signs of volatility, marked by a significant decline in demand, an analyst from the firm said.
In long steel, blast furnace (BF) rebar trade prices are currently hovering at
