Data monitor: Pressure on steel prices is likely to persist
Softer steel fundamentals are likely to weigh on regional and, thus, domestic prices.
While domestic steel demand has grown 8.4% YTD Nov, the rising threat of imports due to falling regional steel prices, weakening autos demand and de-stocking have led to ~11% correction in domestic HRC prices since November. Softer steel fundamentals are likely to weigh on regional and, thus, domestic prices.
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