Thursday, June 09,
Steel Secretary P K Misra expects coking coal prices to settle down a bit but by how much they’ll moderate in the short term is still difficult to say. Though, of course, the market sources say that they are going to go down to about $290-280/MT but the pace depends on how fast operations in Australia normalize because they still have not lifted the force majeure conditions.
The margins of the steel companies are currently under pressure there is of course difficulty in raising prices as the demand is also a bit subdued because of high interest rates people are not stocking up because of these.
Source: The Economic Times
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