Steel Sector Update - Up-Cycle In Steel Prices Expected To Continue In FY22: CARE Ratings
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CARE Ratings Research Report
The second half of the Covid-19 struck financial year 2020-21 saw an unprecedented rally in domestic steel prices which seems unstoppable even in FY22.
Domestic flat steel - hot rolled coil prices are up 40% since April 2020 and prices of long steel – thermo mechanical treated are nearly 30% higher as on March 2021.
Steel prices continue to set new record highs month after month.
In April 2021, domestic steel players announced further price hikes by up to Rs 1,000-2,000 per tonne in hot tolled coil and around Rs 3,000 per tonne in cold rolled coil.
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