Overall slide in metals index due to funds being stuck in system: Sarda Energy

In an interview to CNBC-TV18, Manish Sarda, Director of Sarda Energy and Minerals spoke about the latest happenings in his company and sector.

Overall slide that we are seeing in the metals index is primarily because of the export refund issue which is going on. There is a lot of money which is stuck in the system. Exports are getting hampered, he said.

Domestic steel prices are at a discount to international steel prices, he added.

NMDC iron ore prices is still cheaper compared to international prices, said Sarda.