JAN 2021 - STEEL MARKET FORECAST

Wishing all readers Happy New Year and Fabulous month ahead.

All Steel troupes are optimistic about demand for Steel in 2021, Since the demand is more in both domestic & export market all steel manufacturers are full of orders.

Major players should concentrate in the domestic market first then to export, Since most of the troupes will give preference to export for revenue which will affect domestic project and supply.

Tata Steel hiked Rs.6500/MT already, Sail India has increase Rs.7000/MT in base price of all flat products, Due to rising cost of Raw Materials many auto and consumer appliance firms have announced price hike from Jan 2021.

Iron order has seen sharp rise in prices because china has recovered quite well. As per the survey steel production to hit 128.6 Million MT by 2021 and same to reach 140 Million MT by 2023.

Steel market to be strong probably for the entire year so over all we can foresee optimistic market but profit percentage will decease due to the RM increase.