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| Global steel market to remain steadfast in the coming months - 18 Dec, 2009 |
| 2009-12-21 09:31:19 |
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| Real demand for steel remains low, except possibly from China, but prices of steel are likely to remain steady in coming months. Ironically it is not the demand increase, which is driving the upward movement of steel prices but the cost pressure. Spot price of scrap, iron ore and coking coal are on Northward march cajoling steel mills to release the pressure by price correction. Moreover curtailed capacity utilization has added fuel to this spark. Market experts opine that global prices of long products, which are currently lagging behind recovery in flat products are likely to catch up in the coming months. |
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