As the possibility of a safeguard duty gathers momentum, the big question facing the industry is, will 2025 be any better?
Prices of hot rolled coil (HRC), a benchmark for flat steel, are at a four-year low. Data from the price reporting and market intelligence firm BigMint shows that the price of HRC ex-Mumbai stood at ₹46,600 per tonne as of January 3, 2025, with the lowest recorded price at ₹46,400 per tonne as of December 20, 2024.
The monthly average price for December 2023 was ₹55,000 per tonne, while for December 2024, it stood at ₹46,900 per tonne, reflecting a year-on-year decrease of 14.7 per cent.
According to a BigMint analysis, despite anticipated volatility from the safeguard duty investigation, prices have remained stable due to subdued demand and lower market activity during the holiday season.
Prices reached a four-year low, driven by weak demand, increased imports, and greater domestic mill supply availability, it said.
This story is from the January 07, 2025 edition of Business Standard.
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This story is from the January 07, 2025 edition of Business Standard.
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