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Easing covid-19 restrictions in China may lead to an increase in demand and prices of metals, but the uptick maybe limited, said industry experts.
As the largest consumer of commodities, a pick-up in demand in China can help lift global metals demand and prices amid recessionary concerns in developed economies such as the US and Europe. Rising demand and prices in China will also be key to prevent cheap imports to India and help improve domestic steel prices. However, analysts said that while easing of covid restrictions in China can accrue positives, benefits may be gradual. Domestic steel prices are still near import parity prices, and under pressure. Declining coal prices, however, can accrue benefits on the margins.
Source : https://www.livemint.com/companies/news/steel-may-gain-little-as-china-eases-covid-curbs-11670950392704.html