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Indian steelmakers’ margin may rise by 3% on lower raw material prices
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Due to the lower iron ore and coking coal prices in the global markets, Indian domestic steel manufacturers’ margins may expand by 3% this financial year.
It’s known that the prices of coking coal have dropped to US$215/ton from US$350/ton and iron ore prices have also decreased significantly due to weak demand from China.
However, the Indian steel prices were not affected much by the lower raw material prices as the rupee is depreciating. Thus, if the rupee appreciates, the steel prices may be pushed up.
News Date
5/21/2012 9:42:06 AM
reported by
Ivy Wei
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