scorecardresearchDomestic steel mills are expected to cut production as demand falls: Report

Domestic steel mills are expected to cut production as demand falls: Report

Updated: 29 Jun 2022, 10:26 AM IST
TL;DR.
More than a 22% decline in steel prices since its peak in April this year has made buyers wary of holding inventory in anticipation of further price corrections. Consumption of steel has also come down as the seasonally slow period of the monsoon arrives.
On May 22, the government imposed a 15% export duty on a range of finished steel products. 

On May 22, the government imposed a 15% export duty on a range of finished steel products.