Indian steel: 2010 harangued a booming price improvement

摘要

Onset of 2010 opens on a resplendent note for Indian steel sector. Indian steel majors, who had been sulking for the last couple of months in a survival mode with two successive price cuts in October and November, had reasons to feel ebullient. The linkage of domestic prices with the international levels is natural but the reactivity has become sharper. The remarkable spontaneity in price movements is primarily to close the gap between "Desi" and "Videshi" prices rather than demand supply equation. End of 3rd quarter witnessed meltdown in China pressuring offers from Black Sea port as well. Indian steel majors reluctantly reduced the prices in two instalments to roadblock deluge of imports. Come December and the effervescence was evident once again reacting to high tide overseas. Import prices of HRC ascended by USD40 per tonne to USD50 per tonne as China domestic levels oscillated once again.