Major steel producers in India have preferred to keep their prices unchanged for the month of December on weak demand and cheaper offers from small and medium manufacturers.
“We do not see early recover in Indian steel prices, in spite global prices have moved up by $10-15 per tonne. Markets are not bullish at all, infact many of us think prices might fall further in coming weeks.” said a steel analyst based in Mumbai.
There are not many projects sanctioned by government, also liquidity is a major concern for steel industry in India. No one wants to go for a large project when government policies are very unstable, he further added.
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