Flat Steel Prices Continue To Remain Under Pressure: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Domestic prices for long steel on the IF route, which accounts for around 65-70% of the overall long steel market, witnessed a price improvement of Rs 600/tonne week-on-week to Rs 49,500/tonne. This increase was driven by higher demand and rising raw material costs. In line with the improvement observed in IF route long steel prices, prices in for primary rebar the project segment appear to have bottomed out, with an increase of Rs 200/t week-on-week to Rs R51,800/tonne. We believe, multiple public holidays in March-April 2024 along with the financial year-end liquidity crunch and slowdown in the project segment will keep the overall demand for long steel under pressure with only need-based buying. Flat steel prices continue to remain under pressure with prices further declining Rs 400/tonne week-on-week at Rs 52,700/tonne. Considering the subdued demand, higher imports and narrow spreads between flat-long steel prices, tier-I mills are expected to roll over the list prices for March-24 deliveries. Higher imports continue to post near-term challenges for domestic mills with hot rolled coil and plates import in Feb-24 at 0.64 mt (up 40% month-on-month) and imports in March-24 already crossing 0.2 mt.Indian mills’ offerings to the export market have remained subdued due to stiff competition from producers in China and Vietnam..Click on the attachment to read the full report:.Solar Industries - Stronger Defence Proportion To Arm Higher Margins: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Flat Steel Prices Continue To Remain Under Pressure: Motilal Oswal

Tier-I mills may roll over prices for March 2024 deliveries

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Flat Steel Prices Continue To Remain Under Pressure: Motilal Oswal

Tier-I mills may roll over prices for March 2024 deliveries

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