Domestic Steel Consumption Remains Strong: Motilal Oswal 
A roll of raw steel passes through the hot dip galvanizing production line at the Tata Steel Ltd. (Photographer: Jasper Juinen/Bloomberg)

Domestic Steel Consumption Remains Strong: Motilal Oswal 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

We expect strong domestic demand and low finished steel inventory to support domestic steel prices.

India’s domestic steel consumption rose 9% YoY (3% month-on-month) to 9.97 million, the highest ever monthly consumption.

Declining exports and rising imports further indicate a strong rebound in domestic demand. Lower domestic steel inventory provides comfort on steel prices.

Domestic rebar prices, however, have come under pressure due to rising supply and softened demand in the construction segment, weighed by high prices of construction material such as cement and steel.

Click on the attachment to read the full report:

Motilal Oswal Metals Sector Update 100221.pdf


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