He further states that steel demand in Europe has picked up post summer, hence there is a movement in prices.
Excerpts from CNBC-TV18's exclusive interview with J Mehra:
Is it true that steel prices are likely to go up this month?
It is very speculative. In any case, the steel demand remains quite strong. There would be movements in the prices. We have dropped the prices in the last 1-2 months. This is the period where the demand normally picks up. So there would be some movement.
Is there no question for any further cuts in the domestic market right?
No.
Globally, have prices picked up a little, which is why this talk of a price hike is coming from?
Yes, Europe has picked up. The movement in the pricing and the buying has started because normally in Europe, after the summer holidays, the purchases begin. They have been sitting on the fence and have been trying to watch out. But now, the market is moving.
If indeed there is any elbowroom, how much do you think that you will be able to hike prices by?
I will not speculate.
For more on markets & business, log on to www.moneycontrol.com
