Economic Factors Driving Steel Angle Price Movements in India
Steel angles hold a pivotal role within India's construction and manufacturing sectors, serving as indispensable structural elements applied in diverse applications ranging from building frameworks to machinery and equipment. Similar to numerous commodities, the cost of steel angles per kg in India is subject to the sway of multiple economic factors. In the forthcoming blog, we shall delve into an examination of the principal economic factors that propel fluctuations in steel angle prices within India. 1. Raw Material Costs: One of the primary drivers of steel angle prices is the cost of raw materials, particularly iron ore and coal. India relies heavily on imported iron ore for its steel production, and fluctuations in global iron ore prices can impact the cost of steel production. Similarly, the availability and pricing of coal for steel manufacturing play a role in determining the steel angle price per kg. 2. Demand and Supply Dynamics: The basic principles of supply an