steel

In a set of pre-budget recommendations, the industry, represented by the Aluminium Association of India (AAI), has said that the challenges coming from rising imports, declining domestic market share, and increasing production and logistics costs need to be mitigated soon and in this regard, it is essential that the aluminium sector gets duty protection on imports of finished products and relief in case of raw materials.

Steel prices have already touched all-time high in the domestic market and are currently hovering around Rs 57,250 per tonne. Through Q3, HRC (hot roller coils) and Primary rebar prices increased by Rs 12,000 per tonne and Rs 15,500 per tonne respectively.

In its steel monitor report, the agency cited that India's domestic consumption in November 2020 was at 8.93 MT, 7.8 per cent higher on MoM level but 2 per cent lower in terms of YoY comparison. "The improved domestic demand is reflected in steel prices which further increased in November 2020."