Steel price hike in new year
The Financial Express, December 21, 2009, Page 1
Steel prices which had come off the cliff in June-July last year to suffer a precipitous fall consequent to the demand crunch caused by the global economic crisis, are going to look up in the new year, SAIL chairman S K Roongta told FE. The imminent price hike of the metal, a key input for infrastructure projects, would also mark an early recovery in the steel industry, which had to defer expansion plans in the face of the demands lump that lasted for over a year. The price hike, incidentally , comes at a time when the policy managers are worried over high inflation.
"We see prices recovering in January. The overall demand for steel in 2010isexpectedtobeback at the 2006-07 level. In that sense, the recovery would be faster than expected as earlier it was seen only by 2011-12," Roongta said.
The Financial Express, December 21, 2009, Page 1
Steel prices which had come off the cliff in June-July last year to suffer a precipitous fall consequent to the demand crunch caused by the global economic crisis, are going to look up in the new year, SAIL chairman S K Roongta told FE. The imminent price hike of the metal, a key input for infrastructure projects, would also mark an early recovery in the steel industry, which had to defer expansion plans in the face of the demands lump that lasted for over a year. The price hike, incidentally , comes at a time when the policy managers are worried over high inflation.
"We see prices recovering in January. The overall demand for steel in 2010isexpectedtobeback at the 2006-07 level. In that sense, the recovery would be faster than expected as earlier it was seen only by 2011-12," Roongta said.
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