The volatility in steel prices is likely to continue in the medium-term due to the impact of geopolitical situation on supply chain logistics, according to SteelMint.
Last week, steel makers increased the prices of hot-rolled coil (HRC) by Rs 1,400 to Rs 60,700 per tonne from Rs 59,300 a tonne on February 22, the research firm said in a report.
In the last six months, the steel prices have not been stable. The user industry has been witnessing price revisions on a weekly basis.
“The volatility in the prices is likely to continue in the medium-term on account of geo-political situations across the globe impacting the supply chain,” SteelMint said.
This situation has led to changing supply-demand scenarios impacting prices of raw materials and logistics, it said.
Iron ore fines with iron (Fe) content of 62 per cent were moved up to Rs 5,480 tonne in February, from Rs 4,400 tonne in December 2022.
Similarly, imported hard-coking coal (HCC) prices increased steeply during this period
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