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News

Indian steel prices rose sharply in February 2011

MEPS (International) : 06 March, 2011  (Special Report)
India, steel product quotations increased dramatically in February. The price rises have been attributed to successive hikes in raw material costs.
Indian hot rolled coil domestic selling values continue to exhibit a positive tendency. The latest increase has been attributed to the expectation of firmer demand from the automotive and consumer durables sectors, as well as successive hikes in raw material costs. Shortage fears also fuelled speculative buying from distributors and end-users.

There has been a further series of announcements from the Indian platemakers, tabling more increases for February. Producers contend that the upward movement was due to restocking, combined with fears of possible increases in coking coal prices.

Indian long products producers are focused on supplying state-funded infrastructure projects. Consumption by the private sector remains subdued. At present, mill utilisation rates exceed demand levels.

MEPS' new Indian Steel Price series is now available to purchase online. Price and index tables offer the latest domestic ex-mill prices, updated on a monthly basis. They are used as an independent reference price for steel purchasing. An annual subscription is only GBP200.
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