Steel prices could fall 10 percent in India

Sunbd Desk || Published: 2021-02-10 10:30:09 || Updated: 2021-02-10 10:30:09

The proposed budget for FY 2021-22 proposes to reduce tariffs on steel imports. The government’s proposal will make imported steel in India more competitive in the domestic market. As a result, the price of the practical metal in the country’s market could fall by as much as 10 percent, according to the country’s investment information provider and rating agency ICRA. News IANA.

In its report on the impact of the proposed tariff change on imported steel, the ICRA said that the demand for steel in the domestic market would increase in the coming days due to various positive announcements made by the government in the budget. In addition, if for some reason the current price in the international market does not change much, then the price of steel in the domestic market will remain at normal levels.

Sunbd/NJ

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