Weak demand puts pressure on steel prices2 min read 09 Aug 2022, 11:38 PM IST
Indian steel mills cut the price of hot rolled coil for August 22 to ₹58,500 per tonne, which is a reduction of ₹3,500 per tonne m-o-m, and cold rolled coil to ₹66,000 per tonne, a reduction of ₹2,500 per tonne m-o-m, to align more closely with trade channel prices, suggested Nomura Research data
NEW DELHI : Steel prices slipped down both on a week-on-week and month-on-month (m-o-m) basis with an improvement in demand remaining elusive. Investors are thus watchful about any development pertaining to the removal of steel export duty that can help push up sales and in turn lead to a reduction in inventory.
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