Steel prices have surged sharply amid the ongoing war in Europe – Russia and Ukraine annually export ~37 MT of steel which is 8-9% of global net trade. Steel prices are expected to rise further – as the hikes so far are insufficient to cover inflation in raw materials like coking coal and iron ore – leading to demand destruction, Kotak Institutional Equities has said.
from | The Financial Express https://ift.tt/aqs7BF3
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