Steel prices have noticed a roller coaster ride in last few days. Experts believe that rising input cost and over supply will continue to the steel industry under risk.
The on going global economic crisis which has softened iron ore and scrap prices in international market is expected to add on to the risk for the steel sector.
Domestic Market Highlights:
1) Ingot prices corrected by over Rs 200-500/MT
2) Sponge iron prices corrected over Rs 700-800/MT
3) Scrap prices also corrected by over Rs 500/MT during the week.
4) Flat prices are expected to fall in December on weak demand from auto sector and falling import prices
5) China's Bao steel has reduced its December contract prices i.e. first time since May 2011 on weak domestic demand.
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