Experts believe that despite the March quarter traditionally being the strongest for steelmakers both in terms of demand and margins, they may have to look at moderating prices. "Indian steel mills are scrambling to stem the tide of imports, but their focus on quality alone won t suffice. Price competitiveness is paramount in this market, and a failure to adapt could spell disaster for their bottom lines in FY25," said Vedant Goel, managing director at Neo Mega Steel, a Pune-based steel trader.
Experts believe that despite the March quarter traditionally being the strongest for steelmakers both in terms of demand and margins, they may have to look at moderating prices. "Indian steel mills are scrambling to stem the tide of imports, but their focus on quality alone won t suffice. Price competitiveness is paramount in this market, and a failure to adapt could spell disaster for their bottom lines in FY25," said Vedant Goel, managing director at Neo Mega Steel, a Pune-based steel trader.
The Indian government has made it mandatory for steel imports that have not been cleared by the Bureau of Indian Standards (BIS) to obtain approval from the steel ministry. This move is aimed at cracking down on substandard goods. The decision may reduce imports of steel products, which have seen a significant increase in recent months.
The Indian government has made it mandatory for steel imports that have not been cleared by the Bureau of Indian Standards (BIS) to obtain approval from the steel ministry. This move is aimed at cracking down on substandard goods. The decision may reduce imports of steel products, which have seen a significant increase in recent months.
While the overall impact on the Chinese export market is expected to be limited, India s dependence on Chinese steel imports has been growing, with China becoming the second-largest steel exporter to India. The domestic steel industry has raised concerns about the impact of imports on prices and demand.