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Surge in steel price opens up room for companies to increase rates

Steel prices started rallying from March after the Chinese New Year holiday

A crane operator lifts up a finished steel coil at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany. Photo: Reuters

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Steel prices, globally, had peaked in June-August 2008, before the global financial crisis sent commodity prices crashing

Ishita Ayan Dutt Kolkata

4 min read Last Updated : Apr 21 2021 | 11:28 PM IST

The rally in steel prices in the global market has widened the gap between global and domestic prices beyond the peak levels of 2008, leaving headroom for further hikes.

Prices started rallying from March after the Chinese New Year holiday. In India, it was felt in the trade segment from about the third week of March and then mills increased prices beginning April. But the gap has widened further due to a surge in global prices.

Ranjan Dhar, chief marketing officer, ArcelorMittal Nippon Steel India (AM/NS India), said international steel prices have increased further since domestic prices were

Topics : steel prices metal prices Industrial Metals chinese new year ArcelorMittal NMDC

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