News and Events

Steel prices in India to experience corrections

After a raise by around INR 2,000/ton in the past two months, it's reported that a downward correction of INR 500 ~ INR 1,000/ton was possibly effective from April 1st.

Also, JSW Steel commented that there would be possibly a price drop; meanwhile, Bhushan Steel made the same comments that such price move would be in accordance with the global trend. At the same time, the overall Indian Steel Price Index (INDSPI) went down by 7 points.

JSW further commented that the steel industry would be experiencing inventory correction for the months from April to June. Bhushan Steel emphasized the market would not be able to absorb any more increase.