Steel demand deficit stood at 43% in June
June-2020 apparent steel demand fell 43% YoY (-48% in May).
Crude steel output fell 27% YoY (May -39%), with production improving MoM both for integrated and secondary steel producers.
While steel mills have hiked HRC prices, they are still 8/4% below China/FTA nations’ import parity prices.
Source: Financial Express