Chinese steel undercuts Indian prices by up to 12% amid tariff uncertainty
Market intelligence firm BigMint noted Chinese FOB prices dropped from $470 to $465 per tonne, with cost and freight prices ranging around $530–$536. | Photo Credit: Chinese steel offers for India have continued to be cheaper by 5–12 per cent, week-on-week since March 4, following the first round of Trump tariffs. This accounts for basic customs duty, currency fluctuations, and port and miscellaneous charges. Price fluctuations have been in the ₹500 per tonne range, although purchases from Indian traders have been on the slower side, sources said. Corresponding prices in...