The extreme volatility, evident for so much of last year in the Indian markets, has struck once again. Local steel plate prices and the currency, as evidenced by the graphs below since the start of the year, have experienced extreme turmoil of late.
This has seen at least USD 25 per LT LDT wiped off the prices in the past few weeks alone, with many end buyers simply refusing to offer until markets settle and some stability on prices can be seen again. One market sale did register with the Bogazzi controlled Roro SKODSBORG (6,803 LDT) fetching an impressive USD 500 per LT LDT.
Source: steel guru. 12 August 2014