Saturday, April 30,
Steel Authority of India Ltd (SAIL) forecasts no major fluctuations in steel prices in the coming future.*
SAIL does not expect “wild fluctuations” in steel prices in the near future. However, demand for steel products in India is likely to continue to rise, said C.S. Verma, Chairman of SAIL.
Situation of the existing steel market has forced Asian steel mills to delay the price hikes in order to offset the rise in input costs in the first quarter of 2011.
Earlier on Friday, SAIL reported a 28 percent fall in its March-quarter net profit, hurt by rising input costs.
Source: Reuters
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