During Jan-26, Indian steel prices increased by 6% MoM to Rs53,500/tonne, hitting a 52-Week-High post the announcement of safeguard duty. Chinese steel prices increased by 1% MoM to $470/tonne, owing to the production cuts and reduction in inventory levels. Coking coal prices increased by 24% MoM to $214/tonne, driven by supply-side disruption caused by weather conditions. In Dec-25, Indian steel production increased by 8.0% MoM to 14.8 mn tonnes, while estimated Chinese steel output fell by 2% MoM to 68mn tonnes in-line with the anti-involution policy for capacity discipline. Global steel production remained flat MoM at 140 mn tonnes. Furthermore, Chinese steel exports...