China’s HRC price surge narrows gap with Indian steel prices
Time:Fri, 18 Oct 2024 09:51:20 +0800
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Axis Securities reports that China’s hot-rolled coil (HRC) prices surged in September 2024, reversing the previous trend, where Indian HRC prices were 7-8% higher. Now, Indian prices are without a big difference, just slightly lower than China’s, boosting the competitiveness of Indian steelmakers and helping stabilize domestic prices.
HRC, widely used in construction, automotive, and manufacturing due to its flexibility, has been under pressure in India due to price issues. Indian companies like POSCO and CSCI have also filed complaints against China for dumping cold-rolled electrical steel. Despite the rise in HRC prices, higher raw material costs may offset potential gains for Indian steel producers.
