Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Association of Indian Forging Industry (AIFI) has sought intervention from PM Narendra Modi to reign in the rising steel prices. The association states the forging and auto component industry in India is already reeling under economic duress amid the COVID-19 pandemic. The auto industry is also facing a shortage of semi-conductors which has impacted production.


The association states that 85pc of units in the forging industry fall under the MSME sector, which was dealt a more severe blow by the virus outbreak compared to large-scale units. As the second COVID-19 wave in India subsides, these units have been trying to get on track. But the firm steel prices, which have increased by 25-30pc in the past six months, have proven to be a deterrent, states the industry body. 

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