Wednesday, 09 Mar 2011
BL reported that some of the Indian steel makers have limited the hike in prices to INR 350 to INR 500 a tonne due to uncertainty in demand post budget.
An analyst said that there is uncertainty in the demand from the infrastructure and housing sectors due to rising cost of funds. High inflation and the likelihood of a further rise in key bank rates may force developers to delay projects.
He added that the slowing demand from the automobile and consumer goods sectors appears to have forced them from effecting major price hikes. (sourced from BL)
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