Volatility in steel prices to continue in medium-term: SteelMint 

Last week, steel makers increased the prices of hot-rolled coil (HRC) by ₹1,400 to ₹60,700 per tonne from ₹59,300 a tonne on February 22, the research firm said in a report

The volatility in steel prices is likely to continue in the medium-term due to the impact of geopolitical situation on supply-chain logistics, according to SteelMint.

Last week, steel makers increased the prices of hot-rolled coil (HRC) by ₹1,400 to ₹60,700 per tonne from ₹59,300 a tonne on February 22, the research firm said in a report.

In the last six months, the steel prices have not been stable. The user industry has been witnessing price revisions on a weekly basis.

"The volatility in the prices is likely to continue in the medium-term on account of geo-political situations across the globe impacting the supply chain," SteelMint said.

This situation has led to changing supply-demand scenarios impacting prices of raw materials and logistics, it said.

Iron ore fines with iron (Fe) content of 62% were moved up to ₹5,480 tonne in February, from ₹4,400 tonne in December 2022.

Similarly, imported hard-coking coal (HCC) prices increased steeply during this period.