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Domestic steel prices in India have increased by ₹2,000–₹3,000 per metric ton (MT) due to strong demand and higher raw material costs. However, growing concerns over a potential global trade war are raising uncertainties for the steel industry.
The price surge is driven by increased input costs, including higher coking coal and iron ore prices. Additionally, domestic demand from the construction and automotive sectors remains strong, further supporting price gains.
However, escalating trade tensions between major economies could disrupt global steel trade. Experts warn that potential tariffs and supply chain disruptions could increase volatility in steel prices and impact export volumes. Indian mills are closely monitoring global trade developments and may seek government support to shield the domestic industry from adverse effects.
Industry experts expect short-term price volatility but anticipate stability once trade tensions ease. The Indian government is also considering trade measures to protect domestic manufacturers from the global fallout.
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