Steel prices are likley to come down in coming months: Marcus

Mumbai, May 11 (UNI) Steel prices are likely to stabilise and may even face a fall in next few months, while the expanding fixed asset investments in China will set the ground to bring up the overall steel demand, said Steel securities analyst Peter Marcus here today.

Even as India continues to don a key role in the global steel map, huge internal demands may hold back the country from positioning itself as a major steel exporter in global level, he said.

However, the industry is expected to be centred around China in the years ahead as the expanding growth in gross domestic product (GDP) may further boost the fixed assets investments there, Mr Marcus said.

But chances are also there when Chinese government may moot restrictions over the steel import to cap the threat of oversupply, he said.

The volatility in prices of steel scraps may also stay decisive in the next few months, he added.

UNI