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Global steel prices were a mixed bag in September 2024 with some markets seeing an uptick in prices and some witnessing a decline. Domestic rebar prices fell both year-on-year and month-on-month in India and the USA, while in China and the European Union prices saw some upward movements.
By far the biggest producer of crude steel is China, followed by European Union, Japan, United States, India, Russia and South Korea. The steel prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.
We expect steel prices to remain high in the January-March 2021 quarter with a sequential price hike of Rs 7,000- 8,500 per tonne. Consequently, flat steel prices are seen 14-15% higher on-year this fiscal.
Global steel prices generally witnessed a declining trend in June 2024 with prices going down in all the major steel markets compared with the previous month, due to a combination of local and global issues.
Mordor Intelligence™ provides a comprehensive analysis of the India Steel market, including a market forecast outlook, historical overview, and statistics for the market share, size, and revenue growth rate. A sample of this industry analysis is available as a free report PDF download.
Prices of major raw materials for steel making – iron ore, scrap, coal – have peaked in March 2022, soon after the onset of the Russia-Ukraine war and have largely slipped thereafter, impacted by dull demand-supply conditions in most markets around the globe.
SteelMint provides updates on Steel Industry, Latest Steel Prices, Steel News and Steel Market trends.
