Domestic steel prices are expected to stay higher in this
financial year despite a slowing global economy owing to pre-election spending,
said CRISIL MarkIntelligence and Analytics.
SteelDomestic
steel prices are expected to stay higher in this financial year despite a
slowing global economy owing to pre-election spending, said CRISIL
MarkIntelligence and Analytics. It said in a note on Tuesday that prices are
expected to remain at ?59,000 per tonne for flat steel and ?56,000 per tonne
for long steel.
The commentary comes a day after India imposed
anti-dumping duty on flat based steel wheels from China.
Smouldering domestic demand, increasing coking coal prices and production
related dynamics in China, the world's largest steel maker, are also likely to
prevent the slide of prices in India, said the note.