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National Mineral Index a likely solution to keep steel prices reasonable

National Mineral Index a likely solution to keep steel prices reasonable

Original Source of this post is:

https://www.business-standard.com/article/economy-policy/national-mineral-index-a-likely-solution-to-keep-steel-prices-reasonable-121092900592_1.html

Diversity in grade quality could make index formation difficult, say industry officials
Topics
Steel Industry | Metals & minerals | steel prices

Aditi Divekar  |  Mumbai 
Last Updated at September 29, 2021 14:00 IST

Introduction of a National Mineral Index for iron ore, the key raw material used in the making of steel, is a plausible solution to keep domestic steel prices reasonable amid rise in demand as consumption is seen growing given the thrust on government infrastructure projects. Domestic steel prices have been rising relentlessly since Apr-June quarter of 2020.

As per Crisil Research’s quarterly domestic hot-rolled coil prices indexed, the index has jumped to 186 levels in Jul-Sep CY21 from 106 level in Apr-Jun quarter CY20. The index is based at 100 with timeline starting Q4 …

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