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Steel May make that turn

7 Oct 2021 ‚óŹ 03:33 AM

Even as Aluminium prices moved higher Steel prices kept falling over the last few months after China intervened. Now we do have a small turn so let's put it in perspective. There are different moving parts so we look at each

Iron ore prices were the weakest so the bump up is just very early

Steel futures or Steel rods show consolidation and an attempt at resuming a move higher that needs to be watched

HRC and Steel NCDEX has surpassed the previous high. I wonder if NCDEX prices are also affected by the rising USDINR given the landing price is in dollars.

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