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The infrastructure and construction segment is the largest end user of steel. | Photo: Bloomberg
Rising imports, combined with limited export opportunities and seasonally weak demand, are weighing on steel prices.
According to market intelligence and price reporting company BigMint, prices of hot rolled coils (HRC) have fallen by Rs 1,000 per tonne, now ranging between Rs 47,000-51,000 per tonne. HRC is a benchmark for flat steel.
According to an analyst of the company, the trading level is the lowest point of the current fiscal year and the market is showing signs of volatility, characterized by a significant drop in demand.
The trade prices for long steel, blast furnace reinforcement (BF) are currently fluctuating around
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