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According to Yieh.com, JSW Steel, one of the largest steel producers in India, believes that the rise in global steel production could affect the upward trend in prices.
In 2020, strong demand for steel and iron ore in China pushed the market price to a new high. Among them, rebar and hot rolled coil futures prices have risen more than 30% since 2019.
However, following the high level of inventories, the market expected prices to become stable as construction activity also declined.
