Indian steel demand has been subdued over last few months on factors like poor demand in housing and automobile sector. Indian traders say they do not sense any improvement in demand for at least for next one month.
“Chances are less that demand will pick up in the month of December.Although many feel that steel prices are at their bottom and can go up any time. But there is no new policies by government which will boost infrastructure growth.” said a steel trader based in Mumbai.
Sail chairman Mr CS Verma said in an interview that SAIL inventories have started shrinking and also global prices have moved up by $5-10.
But traders are still doubtful of any early recovery.
Leave a Reply