Domestic steel demand growth is likely to moderate to 6-7 per cent
in FY24, says ICRA report
Given the
expectation of a slowdown, domestic steel demand growth is likely to moderate
to 6-7 per cent in FY24, says ICRA report | Photo Credit: DEEPAK KR
Indian steel mills are eyeing price hikes in January on the back
of improved global cues and firming up of international prices. Domestic orders
continue to be on the slower side though.
In a first indication, flat-coated offerings —
worst hit by rising imports and price fluctuations — have seen some upward
price movements by ₹500 per tonne. At least two large mills announced price
increases earlier this week, sources said.