“Steel prices to remain at the current high level even if raw-material prices fall,” said Mr Verma, Chairman SAIL.
“Demand for steel will be strong as the government is expected to increase spending on infrastructure, while demand from industry is likely to improve from October, once the [June-September] monsoon season ends.”
He said strong demand will drive India's steel sales up by 9%-10% in the current financial year through March.
Mr. Verma said steel prices have risen around 40% over the last year on strong domestic demand and high raw-material costs.
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