Steel prices set to go up next month
Monday, 21 December 2009
MUMBAI, Dec 20 (Commodity Online): Major steel producers in India expect the steel prices to go up in the coming months.
Steel Authority of India Ltd said steel prices will go up next month following a rise in global prices.
International prices have gone up so it's likely that domestic prices will also go up next month.
SAIL is India's top maker of the alloy and is likely to produce 13 million tonnes of crude steel in the current fiscal ending March 2010.
India's steel demand in calendar 2010 is expected to grow 12.1 per cent, steeper than the 9.2 per cent forecast rise in global consumption.
Following this trend, steel firms in India like SAIL, JSW, Essar and Bhushan Steel are mulling a hike in prices next month.
Steel Authority of India Ltd said steel prices will go up next month following a rise in global prices.
International prices have gone up so it's likely that domestic prices will also go up next month.
SAIL is India's top maker of the alloy and is likely to produce 13 million tonnes of crude steel in the current fiscal ending March 2010.
India's steel demand in calendar 2010 is expected to grow 12.1 per cent, steeper than the 9.2 per cent forecast rise in global consumption.
Following this trend, steel firms in India like SAIL, JSW, Essar and Bhushan Steel are mulling a hike in prices next month.