The steel trade has grown at one of Asia"s largest steel markets, the Loha Mandi in Naraina since mid-November with the demand for long structural products rising by 30-40 percent.
However the price is still falling which has under the average levels to around Rs32,000 to 33,000/ton now.
According to the traders, the pattern of growth is different for the long and flat products. For long products the growth is from new demand, while for flat items it is a combination of new demand and import replacement after the government put HR steel on the restricted list of items for import on November 21, 2008.
Moreover, the increasing actual physical amount of steel sold didn"t reflect the real volume because the steel market is down. Source: Yieh.com