There is no relief for steel makers in India. Despite hike in power tariffs and railway freights, re-bar prices have corrected upto Rs 1,500t in last 15 days. Prices have dropped down majorly at Raipur, Hyderabad, Chennai and Mumbai.
Market participants blame lack of requirement from projects, as many states will be under going elections next month and liquidity crunch in the market. Traders anticipate prices may fall further on lack of demand.
On the other hand some manufacturers believe that prices have over corrected and they see no reason for further fall.
Change in prices in last 15 days (from 13/04/2013)
Chennai prices fell by Rs 3,00/t
Indore prices fell by Rs 800/t
Raipur prices fell by Rs 1,500/t
Hyderabad prices fell by Rs 1,000/t
Mumbai prices fell by Rs 900/t
Delhi prices fell by Rs 1,200/t
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