Friday, 29th April,
Volatile steel futures and tight liquidity has held buyers off the market.* Expert’s view on the future outlook of the market differs from place to place. Few people are optimistic to see a demand revival in the coming month. Whereas, a majority of them are still pessimistic on the demand to pick up significantly given by factors such as approaching monsoons, tight liquidity and higher production costs.
Comments by:
Manufacturers, Rourkela: “Production cost remains high due to higher input costs and power tariffs. Lower off-take of finished goods is discouraging us to run at higher capacities”.
Manufacturers, Indore: “Demand seems to be ok. Finished prices have moved up by Rs 200-300/MT after a long time, signaling a mild revival in demand. Market might pick up in the coming month if the demand sustains and improves”.
Trader, Nagpur: “Demand was already low; and uneven rainfalls at few places have further lowered the off-take of Ingot & Billet. Going forward also, market may not take a big jump if uneven rainfall continues to disrupt activities”.
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