{"id":813,"date":"2024-04-03T09:43:28","date_gmt":"2024-04-03T09:43:28","guid":{"rendered":"https:\/\/www.costmasters.in\/blog\/?p=813"},"modified":"2024-07-30T16:20:30","modified_gmt":"2024-07-30T16:20:30","slug":"steel-commodity-prices","status":"publish","type":"post","link":"https:\/\/www.costmasters.in\/blog\/steel-commodity-prices\/","title":{"rendered":"Steel Rollercoaster: Why Prices Fluctuated in India &#038; What&#8217;s Next"},"content":{"rendered":"<img src=\"https:\/\/www.costmasters.in\/blog\/wp-content\/uploads\/2024\/04\/Steel-Commodity-Prices-2.png\" alt=\"Steel Rollercoaster: Why Prices Fluctuated in India &#038; What&#8217;s Next\" class=\"featured-image\" \/><p><span data-contrast=\"auto\">India, a country with diverse culture, a glorious past and remarkable economic development has witnessed jumps or fall of <\/span><a href=\"https:\/\/www.costmasters.in\/\"><b><span data-contrast=\"auto\">steel commodity prices<\/span><\/b><\/a><span data-contrast=\"auto\"> over some years. This pricing dynamics of the nation\u2019s infrastructure and manufacturing sectors anchor the steel industry which has been affected by several other factors. From global market trends to domestic policy shifts, the volatility in steel prices has left stakeholders grappling with uncertainties and challenges.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1137 size-large\" src=\"https:\/\/www.costmasters.in\/blog\/wp-content\/uploads\/2024\/04\/Steel-Commodity-Prices-2-1024x576.png\" alt=\"Steel-Commodity-Prices\" width=\"525\" height=\"295\" srcset=\"https:\/\/www.costmasters.in\/blog\/wp-content\/uploads\/2024\/04\/Steel-Commodity-Prices-2-1024x576.png 1024w, https:\/\/www.costmasters.in\/blog\/wp-content\/uploads\/2024\/04\/Steel-Commodity-Prices-2-300x169.png 300w, https:\/\/www.costmasters.in\/blog\/wp-content\/uploads\/2024\/04\/Steel-Commodity-Prices-2-768x432.png 768w, https:\/\/www.costmasters.in\/blog\/wp-content\/uploads\/2024\/04\/Steel-Commodity-Prices-2-1536x864.png 1536w, https:\/\/www.costmasters.in\/blog\/wp-content\/uploads\/2024\/04\/Steel-Commodity-Prices-2-2048x1152.png 2048w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><\/p>\n<p><span class=\"TextRun SCXW213207531 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW213207531 BCX0\">In this article, we will explore the many causes for fluctuations in <\/span><\/span><span class=\"TextRun SCXW213207531 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW213207531 BCX0\">steel commodity prices India<\/span><\/span><span class=\"TextRun SCXW213207531 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW213207531 BCX0\">. It is important to understand these changes not only to people within the industry but also investors, policy makers as well as <\/span><span class=\"NormalTextRun SCXW213207531 BCX0\">consumers<\/span><span class=\"NormalTextRun SCXW213207531 BCX0\"> among others. Price changes of steel have far reached implications on various areas including construction projects, automobile manufacturing industries, infrastructure developments amongst others. The purpose of this article is to examine what drives the fluctuation of steel prices in India. Through this article we intend to highlight the interplay between global and domestic factors that will enable readers make better decisions about their investment strategies in such an unpredictable market environment as that of today\u2019s volatile steel markets.<\/span><\/span><span class=\"EOP SCXW213207531 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2><b><span data-contrast=\"auto\">The Downturn: Balancing Act and Price Stabilization (Apr \u201923 to June \u201923)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h2>\n<p><span class=\"TextRun SCXW127455004 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW127455004 BCX0\">The <\/span><span class=\"NormalTextRun SCXW127455004 BCX0\">Demand is weak due to slowdowns in major economies and China&#8217;s construction sector<\/span><span class=\"NormalTextRun SCXW127455004 BCX0\"> cause abundant<\/span><span class=\"NormalTextRun SCXW127455004 BCX0\"> quantity of steel further the g<\/span><span class=\"NormalTextRun SCXW127455004 BCX0\">lobal steel consumption to grow only 1.6% in 2023.<\/span> <\/span><span class=\"TextRun SCXW127455004 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW127455004 BCX0\">S<\/span><span class=\"NormalTextRun SCXW127455004 BCX0\">teel commodity prices<\/span><\/span><span class=\"TextRun SCXW127455004 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"> <span class=\"NormalTextRun SCXW127455004 BCX0\">was<\/span><span class=\"NormalTextRun SCXW127455004 BCX0\"> stay low despite some recovery in <\/span><span class=\"NormalTextRun SCXW127455004 BCX0\">China<\/span><span class=\"NormalTextRun SCXW127455004 BCX0\">. In this quarter the prices are decreased by <\/span><span class=\"NormalTextRun SCXW127455004 BCX0\">around <\/span><\/span><span class=\"TextRun SCXW127455004 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW127455004 BCX0\">5 %<\/span><\/span><span class=\"TextRun SCXW127455004 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW127455004 BCX0\">.<\/span><\/span><\/p>\n<h2><b><span data-contrast=\"auto\">The start of Upswing: Better condition or myth (Apr \u201923 to Sep \u201923)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h2>\n<p><span class=\"TextRun SCXW183389392 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW183389392 BCX0\">The second quarter of FY 23-24 has shown s<\/span><span class=\"NormalTextRun SCXW183389392 BCX0\">trong demand in the domestic market<\/span><span class=\"NormalTextRun SCXW183389392 BCX0\"> which was <\/span><span class=\"NormalTextRun SCXW183389392 BCX0\">coupled with an increase in raw material prices<\/span><span class=\"NormalTextRun SCXW183389392 BCX0\"> such as coal price and iron ore resulted into higher <\/span><\/span><span class=\"TextRun SCXW183389392 BCX0\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"auto\"><strong><span class=\"NormalTextRun SCXW183389392 BCX0\">steel commodity prices India<\/span><\/strong><span class=\"NormalTextRun SCXW183389392 BCX0\">.<\/span><\/span><span class=\"EOP SCXW183389392 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><strong>The Bullish Price Action That Marked the Start of Downfall (Oct \u201923 to Mar \u201924)<\/strong><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">While international steel prices have fallen because of a decrease in demand, particularly in China where local prices have dropped to record lows, coupled with a supportive decline in <a href=\"https:\/\/www.linkedin.com\/pulse\/steel-consumption-forecast-icras-fy25-projections-costmasters-india-zwnfc\/\">commodity prices<\/a> like coking coal and iron ore, Chinese steel exports rose by 30% YoY (January-February 2024) \u2013 the highest levels since 2016. Yet in February 2024, India\u2019s domestic steel demand remains sound despite global challenges as it grew by 9% compared with the previous year; this growth however faces opposition from higher stock levels and reduced buyer interest that put pressure on local steel prices as well as modest import relief and increased supply from domestic producers such as JSPL and NMDC, all while preparing for election season\u2019s unpredictability regarding steel demand.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><b><span data-contrast=\"auto\">The Forecast for FY 2024-25: A Look Ahead<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">a more stable price environment in the Indian steel market for FY 2024-24. Here&#8217;s a breakdown of the key factors likely to influence <a href=\"https:\/\/theomnibuzz.com\/exploring-steel-types-properties-applications\/\">steel<\/a> prices:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Changes in Demand Growth:<\/span><\/b><span data-contrast=\"auto\"> Meanwhile, demand is still expected to be positive, but it is projected to moderate compared to previous years, according to reports by Crisil. The reports indicate that demand might not increase as rapidly as before, possibly due to the upcoming elections and a potential slowdown in infrastructure.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Growth Of Domestic Production Capacity:<\/span><\/b><span data-contrast=\"auto\"> In the second half of FY 2024-25, new steel production capacity will become operational, further closing the gap between domestic supply and demand and leading to oversupply, which will push prices lower.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Global Steel Market Trends:<\/span><\/b><span data-contrast=\"auto\"> The global steel market continues to remain important. If there is a deeper global slowdown and it weakens further, it could lead to increased steel exports and cause international prices to dip, adversely affecting India\u2019s market as well.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>India, a country with diverse culture, a glorious past and remarkable economic development has witnessed jumps or fall of steel commodity prices over some years. This pricing dynamics of the nation\u2019s infrastructure and manufacturing sectors anchor the steel industry which has been affected by several other factors.<\/p>\n","protected":false},"author":1,"featured_media":1137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[93,92,91],"class_list":["post-813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-steel-commodity","tag-commodity-prices","tag-steel-commodity","tag-steel-commodity-prices"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Steel Commodity Prices - CostMasters<\/title>\n<meta name=\"description\" content=\"Explore the causes of fluctuations in steel commodity prices in India. 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