“Sentiments weak; but steep correction unlikely “- Experts

A good rally of Rs 2,500- 3,000 per ton on steel prices, supported by new coal pricing policy, rise in iron ore and scrap prices.

Demand has shown some resistance at these levels, but steep correction unlikely say Industry experts.

“Sentiments might be weak at present, but we do not see a major fall. In medium term prices likely to remain firm on unavailability of iron ore and sky rocketing prices of scrap.” said a big steel manufacturer (not to be named) based in Chattisgarh.