SAIL sees stable steel prices in current year/Will liquidate stockpile in a month's time

摘要

NEW DELHI: Steel Authority of India Ltd. (SAIL) on Thursday said the steel prices would remain stable in the rest of the current fiscal and the company would liquidate its inventory pile up within a month. "I think the prices have more or less stabilised though a fluctuation of 20-30 dollars cannot be ruled out," SAIL Chairman V. S. Jain told reporters here. On the China factor affecting steel prices, he said the Communist state had become a net exporter of steel. "With the demand hovering around four per cent, there would not be much impact," Mr. Jain added. Asked whether a higher interest rate could affect steel consumption, Mr. Jain said the economy remained buoyant and the massive investment in infrastructure, housing and other activities would continue to be strong. In order to avoid distress sale due to fall in steel prices, SAIL had stockpiled inventory but this would nowbe liquidated in a month's time, Mr. Jain said.