NEW INDIA STEEL PRICE FORECASTS FROM MEPS

MEPS – Indian flat product transaction values trended upwards in September. However, domestic mills struggled to implement the 5 percent rise they sought to achieve. End-user demand was slow to pick up after the monsoon season. Producers operated at reduced capacities due to restricted iron ore supply. Forecasts for the main flat and long products are now available in MEPS’ expanded Steel Prices On-line service.

Consumption by the automotive and consumer durables sectors is expected to remain subdued in the short term. Furthermore, international prices are forecast to move down over the coming months. These factors could prevent local steelmakers from successfully implementing advances and selling figures are expected to soften.

Iron ore costs are likely to remain high next year due to continued growth in world steel production. Steel import prices from Chinese suppliers could rise due to the appreciation of the Renminbi against the US dollar. Consequently, domestic producers are likely to push through price advances in the first half of 2012.

For a one year forecast, updated monthly, please visit MEPS Steel Prices On-line service

Source: MEPS India Steel Prices - MEPS Indian Steel Price Index