Indian steel prices may fall as US tariffs reshape alloy's trade, S&P Global says
The agency estimated Indian steel may see a price correction of about 3,000 rupees ($34.52) per ton.
Local steelmakers have been battling a rising influx of discounted steel, with intake from China, South Korea and Japan hitting a record high in first 10 months of the current fiscal.
Steel prices in India had plunged to the lowest level in more than three years in August last year, with local prices of hot rolled coils then averaging 52,267 rupees per ton.
U.S. President Donald Trump's 25% tariffs on steel and aluminium imports into the country come into effect on March 12, and the measures have triggered a global trade war.
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