Indian steel market deceived the expectations of its participants

The holiday "dila", widely celebrated in India ended. On Monday, Indian businessmen were in full confidence that now the increase in demand for steel products will begin. However, the first working day, after a long holidays, was marked by the fall of the business activity index by another 1%.

The not -acquired expectation of the positive influence of the new credit policy and the start of new infrastructure projects inflicted an irreparable blow to those who decided to speculative purchases of the metal distribution.

Despite the high -profile statements of local politicians, direct foreign investments began to contract, retail trade was unable to overcome the festive lull and the buyers of the metal production took a wait -and -see position.

The escalation of prices for scrap metal and weakening of the claims of creditors can serve as an impetus for the rise of the market, but today many pessimistic speak of its imminent collapse under their own weight in the absence of at least some conscious demand for steel.

This week will give a clear idea of ​​the direction of which will go to the steel market of India. The winter session of the Indian parliament will begin on November 22. It will raise issues of support for the domestic market for the metal rolling and attempts to restore trust between its participants.






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