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There's a Silver Lining for India's iron and Steel Industry Now! - Vimarsana News

There's a Silver Lining for India's iron and Steel Industry Now!

Published: September 14, 2022

Mumbai (Maharashtra) [India], September 14 (ANI/ATK): A Rs 2000.00 per MT addition to the cost of HRC in recent times is cause for celebration in the I & S industry that has seen prices drop as low as Rs 55000.00 in the domestic market, a far cry from the high of Rs 75000.00 being offered in the international market as recently as March 2022 before the GOI brought in export duties to stem the exports in favour of domestic industries. Local industries, including infrastructure, need HRC in some form or the other for their growth justifies GOI. This is despite the international markets being...

Source: laosnews.net
Related Topics:
Vedant GoelSteel Expert Vedant GoelNeo MegaMumbai Maharashtra IndiaEptember 14 Ani Atka Rs 2000 00 Per Mt Addition To The Cost Of Hrc In Recent Times Is Cause For Celebration Thei Amps Industry That Has Seen Prices Drop As Low 55000 Domestic MarketA Far Cry From The High Of Rs 75000 00 Being Offered In International Market As Recently March 2022 Before Goi Brought Export Duties To Stem Exports Favour Domestic Industries LocalIncluding InfrastructureEed Hrc In Some Form Or The Other For Their Growth Justifies Goi This Is Despite International Markets Being Lucrative Present And Europe On Edge With Its Steel Plants Going Off Grid Absence Of Gas From Russia To Heat Furnaces Besides Activitiesa Glut Local Market Due Turn EventsLus Sluggish Demand From Industrya Spillover The Covid Induced Lockdown Ees Inventories Pile Up With Producers These Factors Have Depressed The Prices Of Various Forms SteelNcluding HrcRinging It As Low Rs 50000 00 To 55000 That SaidNdustries In IndiaNcluding AutomotivesLand InfrastructureEe This As An Opportunity To Buy Raw Materials At Competitive Prices And Could Be The Reason Behind Jump Of Rs 2000 00 Pmt According Steel Expert Vedant Goel Neo MegaHis Development Could Be Termed Quota Silver Lining Quot For India 39s Iron And Steel Industry Would Most Visible Around Diwali Time With Record Sales By Automobile Companies Fmcg 39 This Havea Positive ImpactS Automobile Fmcg Companies Have Faced Tough Times In The Last Two YearsUch Prices Of Hrc Were Necessary To Ramp Up Production In Anticipation Good Times Ahead Bumber Diwali 39 He Says This Isa Very Significant And Positive Move For The Infrastructure Sector Too When India Is Building Its Be It World Class Multi Lane Express HighwaysLong TunnelsOmplex Structures Including Bridges And CulvertsNd Today Even High RisesDds Steel Expert Vedant Goel From Neo Mega As For The Producers ThemselvesUthoritative Sources In The Trade Indicate That Government Has Clarified ThisAxing Steel Exports