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Domestic steel prices have witnessed strong traction over the last eight to nine months, registering a sharp increase in the aforementioned period.
Currently, domestic hot rolled coil prices (excluding Mumbai) are at Rs 62,500/tonne, up 71% from the July 2020 low of Rs 36,500/tonne.
Healthy traction was witnessed in international steel prices also.
Over the last three months, Chinese steel HRC export price has increased by 35% to $890/tonne in April 2021 from $660/tonne in January 2021.
Healthy demand both on the global as well as domestic front has aided this uptick in steel prices auguring well for steel players.
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