Declining steel prices spoil festive mood

摘要

THE declining trend in steel prices in the major markets for almost all categories has somewhat spoiled the festive mood beginning at the end of this month. Global prices have exhibited limited volatility in the month of December with major ports in the western hemisphere closing operations for a fortnight starting from the third week. Average HO prices (COS origin) in Dec'08 was 475 dollars fob, marginally went up to 507 dollars in Dec'09, rose to 635 dollars in Dec'10 before falling at 585 dollars/tonne.