Steel, cement prices witness sharp fall in 30 days
   Date :29-Nov-2021

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Business Bureau :
 
Builders, developers and those planning to construct households may now heave a sigh of relief as steel and cement prices are falling down. The prices of the commodities were flying high during the last month on account of various national and international factors. Steel prices have gone significantly in the month of October when the prices were at its all time high. Steel TMT bar prices were between Rs 63,000 to Rs 53,750 per tonne (plus 18% extra) in October when China was aggressively buying the commodity. apart from this, high coal prices had also impacted the prices. However, now steel prices have witnessed a sharp fall in last 30 days or so. On Sunday, steel prices were between Rs 59,500 to Rs 47,250 per tonne (plus 18% extra). One of the prominent steel dealers, who wished not to be quoted, said that fall in prices of coal is the main reason for fall in steel prices.
 
“Apart from this, there is poor demand for the commodity in domestic and international markets which are further pulling back the prices,’ he said adding that steel prices may further dip in the coming days. Cement prices are also following the similar trend. Its prices were at the peak in October. But gradually it started falling. Cement prices for bulk buy category were between Rs 360-330/bag (including GST) in October which came down to Rs 330-Rs 290/bag (including GST) on Sunday. Similarly, the prices for retail trade category, the prices slipped from Rs 400-350/bag (including GST) to Rs 360-Rs 320/bag (Including GST) over the same period. Experts said that the cement and steel prices have become very volatile. “There are various factors that are affecting the prices and it is very difficult to predict,” they said.