Risk Hai Toh Ishq Hai -Iron Ore mining is still not auctioned

The Steel prices are going to continue North ( high ) as the Iron Ore mining is still not auctioned by requisite authorities for the past 8/9 months .

As the world is ignoring China .Major manufactures are loaded with export orders.

For example the Tor steel bars is selling at Rs 5600 to 5700 / per Ton which used to be sold at Rs 4000 to 4100 per Ton in September 2020 . Plates are being procured at Rs 52 to 53 as against 41 to 42 Max.

The rising trend in the domestic price of steel is expected to continue till China devours all its steel in the domestic market leaving other countries which used to depend on China for steel to look out for alternate sources including India, the supply of iron ore becomes regular in the domestic market and secondary steel producers resume normal production.

China is the largest steel producer in the world. Chinese steelmakers increased steel production by 8.3%.

Today steel making is a basic sector of the economy accounting for 12% of GDP & will remain the basis of the future economy.

Steel prices in India, which have surged 55 percent in the last six months, are likely to come under pressure

For better understanding and its only Nine Chinese companies controlling 75% of steel production.

Hot-rolled coil steel is ruling at 4,318 Chinese yan (Rs 48,650) a tonne. Prices are up five percent since last month. Vs in india Rs 53,000 a tonne.

Hot rolled coil prices have increased 46 per cent to Rs 53,000 per tonne in November compared to Rs 37,400 per tonne in July this year. Rebar TMT, which are used in the housing and construction sectors, have touched Rs 50,000 a tonne.

Global steel prices have increased 15.39 per cent year-on-year, while iron ore prices are up 76 percent during the same period.

Pricing outlook is to consider future prospects for the global steel supply-demand balance. In this respect

The global steel demand growth in 2020 will amount to 1.7% (from 1775mt of finished products in 2019, to 1805 mt in 2020). This is equivalent to an increase in steel consumption of 30 million tonnes.

Happy New Year to all - When Iron and Carbon come together, there emerges Steel ! To be something stronger and better you must mostly unite with something.