New Delhi: The recent increase in Chinese steel prices may give some relief to Indian steel makers. A report by Axis Securities highlights that Chinese hot-rolled coil (HRC) steel prices have gone up in September 2024, giving an edge to Indian steel companies. State Election ResultsElection Results Haryana LiveJ and K Election Results LiveStock Market LIVE: How are the stocks doing today? "The increase in Chinese HRC prices has turned the import parity premium of the domestic HRC prices vs. Chinese prices from approx. 7-8 per cent in Sep'24 into an import parity discount of approx. 3 per cent at present" said the report. The report noted that as of September 2024, the domestic HRC (hot-rolled coil) prices were about 7-8 per cent higher than Chinese prices, but this gap has now reversed into a discount of approximately 3 per cent. HRC, which stands for hot-rolled coil, refers to steel rolled into coils at high temperatures and is commonly used in industries such as construction, automotive, and manufacturing. The report says that this shift is expected to provide some relief to Indian HRC (Steel) makers to stabilise domestic prices. MarketingModern Marketing Masterclass by Seth GodinBy - Seth Godin, Best-selling authorView Program Artificial Intelligence(AI)Basics of Generative AI : Unveiling Tomorrow's InnovationsBy - Metla Sudha Sekhar, Developer and Lead InstructorView Program LegalData Privacy with General Data Protection Regulation (GDPR)By - Arun S. Prabhu, Partner (Head- Technology and Telecommunications): Cyril Amarchand MangaldasView Program TechnologyCybersecurity MasterclassBy - Gaurav Khera, Partner, Risk Advisory: DeloitteView Program LegalCommercial Contract and Dispute ResolutionBy - Mukul Sharma, Partner- Cyril Amarchand MangaldasView Program MarketingDigital Marketing Masterclass by Pam MooreBy - Pam Moore, Digital Transformation and Social Media ExpertView Program Office ProductivityZero to Hero in Microsoft Excel: Complete Excel guide 2024By - Metla Sudha Sekhar, Developer and Lead InstructorView Program Artificial Intelligence(AI)Java Programming with ChatGPT: Learn using Generative AIBy - Metla Sudha Sekhar, Developer and Lead InstructorView Program LegalMastering M&A Deal MakingBy - Ashwath Rau, Senior Partner- AZB & PartnersView Program LegalLabour LawsBy - Ankita Ray, Partner: Cyril Amarchand MangaldasView Program MarketingPerformance Marketing for eCommerce BrandsBy - Zafer Mukeri, Founder- Inara MarketersView Program FinanceA2Z Of Finance: Finance Beginner CourseBy - elearnmarkets, Financial Education by StockEdgeView Program FinanceFinancial Reporting and AnalyticsBy - Dr. C.P. Gupta, Professor: Department of Finance and Business Economics, University of DelhiView Program Artificial Intelligence(AI)Generative AI for Dynamic Java Web Applications with ChatGPTBy - Metla Sudha Sekhar, Developer and Lead InstructorView Program Office ProductivityAdvanced Excel Course - Financial Calculations & Excel Made EasyBy - Anirudh Saraf, Founder- Saraf A & Associates, Chartered AccountantView Program Web DevelopmentMastering Full Stack Development: From Frontend to Backend ExcellenceBy - Metla Sudha Sekhar, Developer and Lead InstructorView Program MarketingFuture of Marketing & Branding MasterclassBy - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding ConsultantView Program FinanceA2Z Of MoneyBy - elearnmarkets, Financial Education by StockEdgeView Program FinanceBudget Analysis, Forecasting & ControlBy - Mandar V. Joshi, Partner and Head of Technology Implementation, Management Consulting: KPMGView Program FinanceCorporate Fraud and Forensic ModellingBy - Ankush Lamba, Managing Director- AnkuraView Program Artificial Intelligence(AI)AI for Everyone: Understanding and Applying the Basics on Artificial IntelligenceBy - Ritesh Vajariya, Generative AI ExpertView Program StrategySuccession Planning MasterclassBy - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.View Program The reduction in the price gap is likely to make domestic steelmakers competitive with Chinese imports, offering some relief to Indian steelmakers who have been facing downward pressure on prices for the last few months. On complaints from the domestic steel companies, last month India initiated an anti-dumping investigation concerning imports of Cold Rolled Non-Oriented Electrical Steel originating in or exported from China. According to the Directorate General of Foreign Trade, POSCO Maharashtra Steel Pvt. Ltd. and CSCI Steel Corporation India Pvt. Ltd. filed an application before the designated authority on behalf of the domestic industry. The applicants have alleged that the said commodity is being imported from China at dumped prices which they claimed are causing "material injury to the domestic industry". The applicants have also alleged that there is a further threat of material injury to the domestic industry due to dumped imports and have requested for imposition of an anti-dumping duty on such imports from China. However, the overall impact of China's economic stimulus on steel spreads, or the margin between the price of steel and its raw materials, may be limited. This is because the prices of key raw materials for steel production, such as iron ore and coal, have also seen an increase in prices. While higher HRC prices are beneficial, rising raw material costs could offset these gains, keeping profit margins in check. State Election ResultsHaryana's political showdown revealedJ-K Votes: 10 years later, the ballots speak (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)