Steel prices at 4-year high; trend to continue in H2: Report

Domestic steel prices have reached a four-year high, driven by costlier raw materials. Hot rolled and cold rolled coil prices have significantly increased since early August. This price surge is mainly due to rising coking coal and iron ore prices. Steel consumption in India has shown a seven percent year-on-year rise. Prices are expected to remain elevated through the fiscal year due to strong demand.