Indian steel firms under pressure from rising imports, drop in exports

Global steel industry is facing a major threat due to surge in steel exports, particularly from China at predatory prices

Indian steel companies are facing challenges amid rising low-cost imports, limited export opportunities, seasonal weakness in demand, and unfair dumping by surplus countries like China. These issues weigh on steel prices and threaten to hit domestic manufacturing.

According to market intelligence and price reporting firm, BigMint, hot-rolled coil (HRC) prices have decreased by Rs 1,000 per tonne, now ranging between Rs 47,000 and Rs 51,000 per tonne. HRC is a benchmark in flat steel.

The trade level represents the lowest point for the current financial year, and the market is showing signs of volatility, marked by a