Indian flat product prices seem to be in adjustment mode



The Indian flat product prices demonstrated correction on week opening. The seeds of this mid term adjustment were sown in the process of massive market improvement over the last couple of months.

It is learnt the February and March was watershed months as manufacturers registered healthy sales. Although prices where improved in staggered way but the giant leap came on 1st April when most suppliers hiked the prices by INR 2500 per tonne to INR 3000 per tonne.

(Sourced from www.steelprices-india.com)

  Iron ore price negotiations - South Korea steel body joins protests  

The Korea Iron & Steel Association has joined European and Chinese steel bodies to oppose recent raw material price increases, proposed quarterly pricing revisions, and a possible joint venture between two major iron ore miners.

South Korea's steel industry body, whose members include POSCO, said in a statement on Monday that "Raw material price rises will lead to steel product price increases, which will be an unavoidable cost burden for the automobile and shipbuilding industries."
(Sourced from steelnet.com)