Govt intervention possible to control rising steel prices: Report
India's domestic consumption in November 2020 was at 8.93 MT, 7.8 per cent higher on MoM level but 2 per cent lower in terms of YoY comparison
The increase in India's domestic steel consumption from 2QFY21 has led to higher cost which might invite a government intervention to curb prices, India Ratings and Research said on Friday.
In its steel monitor report, the agency cited that India's domestic consumption in November 2020 was at 8.93 MT, 7.8 per cent higher on MoM level but 2 per cent lower in terms of YoY comparison.
"The improved domestic demand is reflected in steel prices which further increased in November 2020."