Steel prices have been highly volatile over few months. We have noticed that prices have gained momentum in short term and have also corrected equally.
Indian steel markets are probably facing one of the worst times, where raw material is getting expensive on the other hand demand for finished steel has not been encouraging.
Steel markets across world is in correction mode, Chinese steel prices have corrected drastically over liquidity crisis and global turmoil and European markets have been facing fears of economic crisis.
India on the other hand facing acute shortage of Iron ore and coal after government has taken strict measures to control illegal mining. Raw material supply has been tight and demand has been weak. Experts suggest that one should capitalize on rally as markets are uncertain and any bad news from international markets will hurt the sentiments.
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