Domestic flat steel prices are reported to have nearly doubled to Rs.72,000 per tonne in June from Rs.38,000 per tonne a year ago. In comparison, long steel prices rose 1.4 times to Rs.57,900 per tonne. The price rally is expected to benefit through the first half of this fiscal year with flat steel prices up 70 per cent since April. As per a CRISIL study, while it is expected that the prices will soften in the second half of the year, on a YoY basis they could hold on to 40-45 per cent higher levels.
