Indian steel and raw material prices moved lower in CY’25 on a yearly average basis, pressured by a prolonged monsoon, which limited construction activity for a large part of the year. The resultant demand slump, coupled with weak global pricing, cautious buyer sentiment, and robust production growth (in comparison to consumption) pushed several commodities to five-year lows during CY’25. Notably, India’s crude steel production increased 10% to 164 million tonnes (mnt), while consumption rose by a slower 8% to 160 mnt.
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