Steel prices to rise in spite of auto slowdown

Steel industry representatives indicated the domestic steel prices were currently lower than global levels, about $30-$40 a tonne. “The attractiveness of imports has gone as international prices are higher," a steel producer said. This is tempting producers to increase prices.

The price of hot rolled coil, the benchmark for flat steel, is $793 a tonne in the international market, down from $835 a tonne in March. Rebar (in the long product segment), has been holding on, however. Its prices, which were at $741 a tonne in March, are now at $747 a tonne.

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