Steel prices continue the upward trajectory

26 Apr, 2021

Steel prices rose to historical highs in the week ended 16 April 2021, in response to the global rise in steel prices.

Prices have gone up by ~59% y-o-y in the month (until April 16).

Crude steel production rose 19% y-o-y (7% m-o-m) to 9.7 mt in March. Steel consumption grew 41% y-o-y to 8.74 mt.

However, it declined 6% m-o-m in the month as companies looked to exports to benefit from strong global steel prices.

Source: Financial Express