Last Updated :
14 July 2009 at 16:00 IST
Expert predicts bounce in steel stocks
NEW DELHI (Commodity Online): R Venkat Subramanium, head, Alternate Investments Group at Kotak Securities, has opined that steel stocks are set to witness some bounce.
Talking to CNBC-TV18, Subramanium said the steel stocks sold off a lot so there can be a bounce and just yesterday some Chinese steel companies raised their prices. Now even the international prices versus domestic prices there is not such a big premium on the domestic price. So, there is a bit of hope on revival in demand in Europe.
The primary movers for the non-ferrous metals in the last two months have been the Chinese stocking up metals whether that is over or whether there is still some way to go that’s not clear and without any major improvement in US housing demand, he says he cannot imagine there will be a significant rally in copper and supply that. So, that’s a little difficult to game but the steel stocks may have some room to go up.
NCDEX GURMUZZAFFARNAGARSEP12 20 September 2012
contract was trading at
Rs 0 . What's your view on it?
After reading this article, people also read:
