Indian steel companies see long-term change as industry rally continues

DMarket has rising since November and even lockdowns for Covid-19 have not hurt demand, say executives.

The rally in iron ore-to-steel has reached levels unprecedented since 2008, sparking a debate whether it’s a super-cycle or a strategic change in the industry.

 

Global iron ore (62 per cent Australia to China CIF) prices averaged at $178 a tonne in April 2021 versus $120 a tonne