New Delhi, Nov. 10 Steel prices are likely to remain stable at current levels.
Mr S. K. Roongta, Chairman, SAIL, said on Tuesday that prices are already at a low and can be expected to stabilise at the current levels going forward.
“Long product prices are already quite low. It is comparable to the prices last year. For flat products, prices were reduced recently. Though sales are still sluggish, I see the prices remaining stable at these levels,” he said.
The SAIL Chairman added that the company is targeting 8-10 per cent growth in sales this fiscal, compared with last year. However, last year, after the downturn, sales were at an all-time low and the growth projected this year comes on the back of a low base year.
Mr Roongta was speaking at the sidelines of the World Economic Forum’s India Economic Summit. Delivering his address at ‘The affordable housing imperative’, Mr Roongta urged the Government to focus on building infrastructure and making use of the cheap land around the infrastructure corridors.