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Last Updated : Dec 27, 2018 09:21 PM IST | Source: PTI

Any further drop in steel prices not feasible: SAIL

There are strong indications that the domestic prices have already bottomed out for two reasons, it said.

 
 
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The country's largest steel maker SAIL said there were strong indications that domestic steel prices have already bottomed out and any further drop in its prices does not look feasible at this moment.

"Any further decline in prices does not seem feasible at this juncture," Steel Authority of India (SAIL) said in a statement.

There are strong indications that the domestic prices have already bottomed out for two reasons, it said.

While the first reason is substantial de-stocking in the market, the second reason is that the domestic demand is coming back to track with improvement in liquidity position, the company added.

Taking a cue from the international market, the domestic steel prices, particularly for flat products, were under pressure for some time.
First Published on Dec 27, 2018 09:06 pm
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