During Apr-26, Indian steel prices declined 2% MoM to Rs58,400/tonne, impacted by slower demand amid elections and labour shortages. In contrast, Chinese steel prices increased by 1% MoM to $505/tonne, supported by higher export offers and improved export volumes following conflict in the Middle East. In Apr-26, Indian steel production increased 12.5% MoM to 15mn tonnes. Estimated Chinese steel output increased 14% MoM to 87mn tonnes, while estimated global steel production increased 13% MoM to 160mn tonnes. Chinese steel exports rose 16% MoM on the back of improved shortterm demand and export margins, but fell 13% YoY due to weaker global demand, trade...