“Don't see any specific reason for markets to fall”- Experts

Indian steel prices have corrected by Rs 1,000-1,200 per ton in physical and futures market in last 3-4 trading sessions.

Though market experts do not see any specific reasons for markets to fall. Raw material like coal , iron ore and scrap are  almost at their peak, unavailability of iron ore across India and high power charges should support steel prices.

Though rupee is noticed recovering on good inflow of foreign funds (which will make import of scrap and coal cheaper). Poor demand for Re-bar and structural items might force manufacturers to sell at discounted prices said market participants.