Mr. V. R. Sharma, Deputy Managing Director and Chief Executive Officer (CEO) of the Steel Business with Jindal Steel and Power Limited (JSPL), New Delhi holds the following views regarding steel prices in the days ahead.
Offers of raw materials to finished steel products have been firm in last few days. Prices are expected to move up by Rs 1,000/MT and around the mid of November on factors such as non availability of iron ore and upcoming projects in real estate sector by the end of this month.
Iron Ore Pellets prices are expected to increase in the next couple of weeks. Current offers stand in the range of Rs 8,000/MT (Basic price), which is to be quoted at around Rs 9,000/MT (Basic price) or above.
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