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World steel prices continue to rise in the long term.


According to economic research India Smita Joshi Saha, after more than 50-60% reduction since August 2008, price growth back on the international market and this trend may be extended when demand requirements of the automobile manufacturers to recover.

In India, prices of steel products is at 32000-35000 rupees (680-744 dollars) per ton, up 18% compared with the 29,500 rupees (615 dollars) in the fourth quarter of fiscal 2008-2009.

In China, after a period of declining, the demand of some steel industry has improved again and the amount of steel inventories are gradually is released.

The industry needs to promote the purchase of steel this item to prevent prices to rise in the first quarter I/2010, when prices of materials and fuel related such as coke, iron ore will tend increase.

Iron ore price in the contract will be negotiated again in 2010 expected to grow 10-25% over the 75 per ton in fiscal 2008-2009, while the coke price was set at level 300 USD ton.

Mr. Jayant Acharya, director of corporate marketing JSW Steel, said the steel price increases have a positive impact for the corporation, because the raw material price increases are not affecting steel products in the fourth quarter of fiscal hey.

However, corporate profits will be affected when the price increases in production. Profit before tax and depreciation of JSW in this year reached 150 per ton of steel and can achieve 139 per ton of steel in 2010.

Meanwhile, the profit of the manufacturer Tata Steel the world's 8th largest Indian decreased nearly 50% in the second quarter of fiscal 2009-2010, the global steel prices go down.

Tata firm's revenues are affected by the production company Corus, the group's affiliates in Europe, was delayed due to steel prices and demand for this product will reduce the time .

[source : www.tintuc.xalo.vn]

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