- Apr 05, 2018 -
In terms of long products, market prices are mixed. In February, the average export price of HRB400 20mm rebar in China was US$545/tonne (FOB), which was US$5/ton lower than before the holiday. In India, India’s steel companies are actively increasing their investment to expand production capacity, which is expected to increase by 15 million tons in the next few years due to the acceleration of India’s economic growth, the increase of infrastructure investment by the government, urbanization, and the growth of local automotive steel demand. Steel production. In addition, the Indian government also announced plans to establish a joint venture with the country's State-owned Mining Development Corporation (NMDC) to build a new 1.5 million-ton short-process steel plant in Paloncha, Telangana State. In response to Trump’s remarks on trade barriers, relevant officials of the Indian government stated that if the United States imposes high tariffs on steel imported from South Korea, Turkey and Japan, India’s steel product export prices will fall. Because South Korea, Turkey, and Japan relied more on the United States than India. Once these countries' steel export prices fell, they would affect Indian steel exporters.