New Delhi, 27th December, 2018: Taking a cue from international market, the domestic steel prices, particularly for flat products, were under pressure for some time. Recent trend both in Chinese and other global market is showing stability in prices. There is also an increasing trend in raw material prices, both for coal and iron ore.
There are strong indications that the domestic prices have already bottomed out for two reasons, one there is substantial destocking in the market and two domestic demand is coming back to track with improvement in liquidity position. Any further decline in prices does not seen feasible at this juncture.