INDIAN STEEL MARKET ROUNDUP FROM
MEPS INTERNATIONAL LTD
India transaction values
weakened in August, month-on-month, according to MEPS. JSW Steel and Essar Steel
have lobbied the Modi government to impose, a provisional safeguard duty, on all
imports of hot rolled coil and other flat finished steel products.
Cold rolled coil stockists were wary about rebuilding inventories fearing that
prices may fall further. Meanwhile traders of galvanised coil have expressed
concerns regarding this year’s monsoon rains. They fear that poor crop yields
will deflate downstream demand from the agricultural sector.
The Indian wire rod market has continued to endure challenging trading
conditions. Dealers in Mumbai and Raipur were not optimistic about any price
increases in August.
Activity in the structural sections market continued to be challenging. Buyers
preferred to delay bookings, in anticipation of further price concessions from
Source: MEPS -
Steel Review - August Edition
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