India's steel industry optimistic as China's real estate stimulus may reduce steel exports
Time:Thu, 10 Oct 2024 09:51:48 +0800
keywords :
India's steel industry is optimistic about reduced Chinese steel imports following China's new stimulus for its real estate sector. Analysts believed the stimulus could increase domestic steel demand in China, thereby minimizing exports and stabilizing steel prices in India.
This development was expected to benefit Indian steel companies in the short term, aligning domestic hot rolled coil (HRC) prices with those of Chinese imports. Niladri B from Grant Thornton Bharat noted that increased construction activity in China could alleviate dumping issues in the steel market. However, experts advise a cautious approach, as the long-term impact of China's stimulus remains uncertain.
