The record high steel prices in India will not ease in the second half of the current fiscal year 2021-22 with demand expected to spike after the second wave of the pandemic, India-based Brickwork Ratings said in a report on the steel sector issued on Thursday, June 17.
According to the report, domestic steel prices are still lower by 15-20 percent compared to the landed price of imports, offering headroom for further price increases.
"Demand in the auto sector is expected to rise in the festival season in the second half wherein delivery is already waitlisted currently on account of production bottlenecks. Revival in the construction and real estate sectors is also visible. Therefore, there appears to be no compulsion for steel prices to move down in the near future," Brickwork Ratings said in its report.