The upward trend in steel prices may halt and could even reverse in the coming weeks if the market's remain unmet, Seshagiri Rao, joint managing director, JSW Steel, told ET.
Another key monitorable affecting steel prices in the coming weeks will be the cost of key inputs like iron ore and coking coal.
Global prices of steel have been on the rise in recent weeks on expectations of higher demand from China as the country eased its strict Covid-19 curbs.
Indian steel mills also hiked prices in tandem, reaching around Rs 61,000-
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