Increased imports and post-holiday demand lead to a correction in steel prices.
The hindu
India
12-12-2023
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Even though global rates are rising, Indian steel mills have had to adjust their prices due to a surge in imports and a drop in demand in the trade segment following the festival.
Market sources claim that steel companies adjusted the list price for December by two to three percent to bring it in line with what the market was willing to pay.
According to a significant producer, this is a correction meant to make the trade competitive with the recent imports.