Steel, fuel prices to impact domestic steel demand in coming quarters: SteelMint

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20220331/1648717812628565.jpg" title="1648717812628565.jpg" alt="2.jpg"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);">While hot-rolled coil (HRC) is quoting in the range of Rs 76,000-77,000 per tonne, cold-rolled coil (CRC) is costing between Rs 85,000-86,000 per tonne. Rebar price stands at Rs 72,000-73,000 a tonne, SteelMint India said on Thursday.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);">The domestic steel demand is expected to take a hit in the coming quarters due to &quot;very high steel prices&quot; and continuously rising fuel prices, according to industry consultancy SteelMint India. Steel prices in India are trading at an all-time high.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);">While hot-rolled coil (HRC) is quoting in the range of Rs 76,000-77,000 per tonne, cold-rolled coil (CRC) is costing between Rs 85,000-86,000 per tonne. Rebar price stands at Rs 72,000-73,000 a tonne, SteelMint India said on Thursday.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);">Steel prices in India are trading at an all-time high. While hot-rolled coil (HRC) is quoting in the range of Rs 76,000-77,000 per tonne, cold-rolled coil (CRC) is costing between Rs 85,000-86,000 per tonne. Rebar price stands at Rs 72,000-73,000 a tonne, SteelMint India said on Thursday.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);">In the domestic market, prices of HRC in the first week of March were in the range of Rs 68,000-69,000 a tonne, while CRC was at Rs 73,000-74,000 per tonne. Rebar was costing about Rs 67,500-68,500 a tonne. SteelMint said it &quot;expects demand to be negative in coming quarters on rising steel prices and higher fuel prices, which may defer buying activities&quot;.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);">The government on Thursday hiked petrol, diesel prices by 80 paise a litre each, the 9th increase in 10 days, taking the total hike to Rs 6.40 a litre. Rising fuel prices will impact the logistics for the supply of steel items which may also impact the demand, the consultancy said.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 16px; color: rgb(0, 0, 0);">&nbsp;</span></p><p><br/></p>