India Long Steel prices dull on slow growth in Realty sector

Long steel prices used in construction industry has witnessed weak trends in recent times thanks to a slowdown now visible in realty sector, analysts said.

Private equity investments in real estate sector has fallen to $162 mn in April-June quarter in six deals compared to $553 mn worth investments coming from 18 deals.

Demand for long steel used in construction is expected to only marginally grow in 2012-13, according to Crisil Research while domestic demand for long and flat steel combined is expected to rise by 6-8 percent far lower than the double digit growth seen in past five years.

At India’s Naitonal Commodity and Derivatives Exchange (NCDEX), Long Steel July contract has only gained marginally at 1.47% in July at Rs 32950 per metric ton (MT).

Steel Guru has pointed that long steel product prices index has fallen from 9503 to 9482 on Wednesday while most long steel product prices declined marginally this week. It includes TMT bars, Angles, channels, WRC and JOIST. [ Via ]

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