According to the Association of Indian Forging Industry, forging industry has expressed concern at the recent hike in steel prices announced by most of the major steel manufacturers in the country.
Mr Vidyashankar Krishnan president of the Association said that the forging units were seeing signs of revival in the first quarter of 2009-10 because of the revival in the original equipment manufacturing sector.
He added that “The present rise in steel prices has resurfaced a threat to the industry.”
The association had made repeated appeals to keep the domestic prices on a par with the international ex-factory prices.
Mr. Krishnan said in the release that iron ore prices had dropped from USD 140 a tonne to USD 60 and coal prices had declined from USD 400 a tonne to USD 130. He added that compared to the international prices, the Indian steel price was almost INR 5,000 higher for a tonne.
Tuesday, September 22, 2009
Forging industry hit by high steel prices
0 comments:
Post a Comment