2. Indian steel producers namely Tata Steel and JSW steel have posted strong sales in January and February, and prices have been stable. Thus one has to be careful in dealing in steel in India as prices are likely to fall when cheaper imports arrive in coming months.
3. Indian spot iron ore prices have gone down by another US$8-10 to US$67/ ton cfr China for the 63.5% grade. Thus one can see prices moving close to lows of November 2008.
4. Benchmark contracts for iron ore and coking coal remain unsettled due to uncertainties.
5. Prices of pig iron, coke and scrap are trading down due to weak global demand.
6. Anti dumping measures in value-added products by India in Aluminium is likely to benefit Hindalco. Novelis is facing the heat and thus it has closed its UK mills due to poor demand.