Steel prices down as export duty increased heavy, demand cut down
Steel prices have decreased to ₹64,000-65,000 a tonne from ₹71,000 last month on expectation of a supply surplus on levy of 15% export duty. Prices were flying at ₹76,000 a tonne in April. Interestingly, the excess supply comes amid forecast of weak demand with onset of south-west monsoon slowing down infrastructure activities from this month….