WHY STEEL PRICE HIKE FOR THE PAST 3 MONTHS AND EXPECTED TILL MARCH 2021

The accumulated losses made by steel industry in past are huge and many steel plants have gone to bankruptcy. This has lead to the nett shortage of steel in country. Unfortunately , No new steel plant has been installed in country in last 3 years. The demand of steel is increasing and the pent up demand by MSME’s and Projects has further increased the appetite.

The Chinese , Japanese and Korean mills are not competitive. Their prices are much higher than the Indian mills.

Conclusion :

This is the time we all will have to bear till the minerals and other raw material prices are softened.