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Steelmakers raise long product prices amid uptick in domestic demand, uncertainty over China's stimulus bid

Money ControlMoney Control · 5d
Steelmakers raise long product prices amid uptick in domestic demand, uncertainty over China's stimulus bid

Indian steel manufacturers, particularly for long products like rebar and wire rod, are increasing prices in order to maintain control over pricing mechanisms and counter import pressures from countries like China and Vietnam. The domestic demand for steel has picked up after the parliamentary elections, driven largely by the real estate sector and government tendered road projects. The recent stimulus measures in China have raised hopes for Indian metal industry players, as it is expected to reduce import pressure. However, market sentiment remains cautious and a sustained price rebound will depend on further policy support and improvement in real estate demand.

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