Domestic steel prices will soften by 10-15 percent in 2022 due to increased production in turn easing of supply constraints, S&P Global Platts Analytics report said today. Domestic hot-rolled coil prices are expected to average at Rs 53,550-56,700 per tonne ($705-745 per tonne) in calendar 2022.

       This compares with average prices of Rs 63,000 per tonne year-to-date in 2021, which is 58 percent higher than Rs 39,761 per tonne in CY2020. The pre-pandemic average in CY 2019 was Rs 38,567 per tonne. The spread between India domestic and China domestic HRC prices blew out to $220 per ...