Reports suggest that JSW Steel has announced price cuts of upto Rs 2,500 per tonne. In an interview with CNBC-TV18, PK Jain, Director and CFO at Sarda Energy discussed the rationale behind these cuts and the impact on the sector overall.
He doesn’t see any correction in metal prices from this level unless there is a sharp fall on the iron ore side.
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According to him, prices of steel have corrected by about 20 percent on the finished side and pellet prices have corrected by about 40 percent from its peak.
Demand for long products is reasonable stable.
For the full interview, watch the accompanying video.
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First Published: Dec 6, 2021 2:17 PM IST
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