How will Indian steel price trends evolve in CY'24?

Flat steel prices down 4% in H2CY'23 over H1, longs drop even more sharply. Record-high imports, inventory pressure weigh on prices. Chinese steel export volumes to influence price movements in CY'24.

Morning Brief: The Indian steel industry witnessed contrasting trends in CY'23. Prices edged down in H2 of the year reflecting overall global price weakness, as well as pressure of higher imports and inventory. However, a modest recovery is expected in Q1CY'24. As per SteelMint analysis, domestic steel prices started softening from