Indian Re-bar prices have corrected almost 2-3 % in last one month on poor demand from construction sector. Also economic crisis in Europe had kept sentiments down.
Industry sources report SteelMint that,Indian primary steel producers unlikely to hike long product prices for June delivery as demand is still not encouraging and also government projects are running late.With monsoon approaching in mid June construction activities will further slow down.
A senior executive from a Primary Manufacturer Shared his views on the Finish (Long) Steel market with us. He said, “Prices are expected to be range-bound, with mostly local factors like power, labor, etc. having an impact on the pricing mechanism.” He further added that the steel sector is being pulled from both the sides. Manufacturing costs have increased whereas infrastructure projects have also not really taken off.
Mr C.S. Verma, Chairman SAIL had also noted few days back, that steel prices will remain stable and are unlikely to be hiked. Good thing is that coal prices had softened in International market.
Leave a Reply