Indian steel companies see long-term change as industry rally continues

The rally in iron ore-to-steel has reached levels unprecedented since 2008, sparking a debate whether it’s a super-cycle or a strategic change in the industry.   Global iron ore (62 per cent Australia to China CIF) prices averaged at $178 a tonne in April 2021 versus $120 a tonne in October. Prices of the key steelmaking ingredient have now crossed $200 a tonne in early May, which is the highest since the global financial crisis in 2008.   NMDC, the Indian public sector iron ore producer, increased prices by 29.64 per cent and lump ore by 10 per cent effective M.....

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