Indian steel prices have been more on downward trend for last few weeks on factors like , global economy crisis, falling rupee and falling steel prices in international market.
But market experts anticipate prices should stabilize in coming weeks.” We do not see major correction in coming weeks, as international market has started stabilizing.Also looking at availability of raw material there is limited scope of correction.” said an industry veteran based in Tatanagar.
Demand will certainly slow down during monsoons, but major correction are not on cards, he further added.
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