The much inflated steel prices that flourished in March have now taken a sharp turn in the last couple of weeks and are now completely, as some would put it, in a slump. the estimated values cam down from Rs. 40k to about Rs. 33k this week.
Indian market comprises of the local players who have a capture of about 85% and only 15% by the primary makers (RINL, SAIL & TATA). The primary market rode high all month in April after succumbing to the torrid shaking of the local market.
We expect the prices in the primary section to come down by a good Rs. 5k to Rs. 6k. but its all speculation for now. The price trend we show here are true market value updates i.e. the rates at which you and I will buy our products at !
Until the next fall ! ;) (Or rise, steel market truly is absolutely bonkers !!)
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