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Steel sector faces pricing, supply issues; insolvent firms adding to woes

National Steel and Indian Steel might also be soon going before the NCLT

Rolling mills that were shut for years have got back in action to meet the long product shortage in the domestic market
Rolling mills that were shut for years have got back in action to meet the long product shortage in the domestic market

With a recent background of price hikes, and insolvency issues at some producers, the steel industry faces some output issues.  “Customers are lining up purchases on current requirements rather than on a long-term basis, due to (already) high prices,” Nikunj Turakhia, president of the Steel Users Federation of India (SUFI), told Business Standard. “Prices of both long and flat steel products have gone up significantly in the past few months.”  Flat steel is used in the automotive sector, while long steel products find wide application in the ...