There is some improvement in steel demand noticed in Western India, giving hopes of further recovery to steel manufacturers.
Steel prices have also inched up by Rs 300-500 per tonne in last few days on improved demand from construction industry, said market sources.
“There are signs of improvement in steel demand in Mumbai, prices have also gone up by Rs 400-500 per tonne. We expect market to get stabilize in near term. Current offers for billet stand at Rs 31000/t (basic, Ex-Mumbai) and re-bar at around Rs 35,000-35,500/t (basic, Ex-Mumbai).” said a steel manufacturer in Mumbai.
Leave a Reply