Steel prices in India reportedly hit a four-year high
The Economic Times, citing a report, says higher raw-material costs are driving the rise, with strong demand expected to keep prices elevated through the fiscal year.
TLDR
The Economic Times, citing a report, says domestic steel prices have reached a four-year high, driven mainly by rising coking coal and iron ore costs. Hot rolled and cold rolled coil prices have increased significantly since early August, while steel consumption in India is up 7% year on year. The report expects strong demand to keep prices elevated through the fiscal year.
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