Sunday, 06 Nov 2011
In an interview with ET Now, Mr Sushil K Maroo group CFO of JSPL, gives his views on steel demand and iron ore prices.
ET Now - First a word on steel demand, one is getting a sense that global steel demand has got stagnated and that will hit Indian companies?
Mr Sushil Maroo - In fact, global steel demand has come off in the last two months time. Demand has gone down in China also and everywhere else because the world economy is really not doing very well. So, certainly the prices of raw material are also falling because of that, but unfortunately in India the prices of raw material are not falling and availability of iron ore is also in question. So steel prices are still very firm. But the demand in India for steel is not growing because of various reasons as the interest rate is very high and other industries are also getting affected adversely because of low demand of their products and higher interest rate, low liquidity. So, the steel prices in India are firm, still not fallen, but the demand is really not rising.
ET Now - Iron ore prices in India as well have risen recently but globally there has been considerable weakness give us your outlook on the same?
Mr Sushil Maroo - See the global iron ore prices have fallen something about 35% to 45% in last one month. But in India iron ore prices have not fallen commensurately in fact because many mines are closed, availability of iron ore has become very difficult now and many steel companies are having a lot of problems. The export of iron ore also has slowed down from India because they are not able to get the kind of prices they were getting in the past.
(sourced ET Now)
In an interview with ET Now, Mr Sushil K Maroo group CFO of JSPL, gives his views on steel demand and iron ore prices.
ET Now - First a word on steel demand, one is getting a sense that global steel demand has got stagnated and that will hit Indian companies?
Mr Sushil Maroo - In fact, global steel demand has come off in the last two months time. Demand has gone down in China also and everywhere else because the world economy is really not doing very well. So, certainly the prices of raw material are also falling because of that, but unfortunately in India the prices of raw material are not falling and availability of iron ore is also in question. So steel prices are still very firm. But the demand in India for steel is not growing because of various reasons as the interest rate is very high and other industries are also getting affected adversely because of low demand of their products and higher interest rate, low liquidity. So, the steel prices in India are firm, still not fallen, but the demand is really not rising.
ET Now - Iron ore prices in India as well have risen recently but globally there has been considerable weakness give us your outlook on the same?
Mr Sushil Maroo - See the global iron ore prices have fallen something about 35% to 45% in last one month. But in India iron ore prices have not fallen commensurately in fact because many mines are closed, availability of iron ore has become very difficult now and many steel companies are having a lot of problems. The export of iron ore also has slowed down from India because they are not able to get the kind of prices they were getting in the past.
(sourced ET Now)
Posts
No comments:
Post a Comment