Steel Industry Expected to Witness Better Days

DURGAPUR, India - Oct. 23, 2019 - PRLog -- Talking about the steel prices, we can see that the domestic steel prices have become stagnant and are also lower than minimum import price (MIP) that was forcefully listed by the government. However, with the new news coming, it seems the pig iron manufacturers in India is going to witness good days. When we caught up with Ravi Agarwal, he said 'this news has brought a sigh of relief to us as we are working hard to build our nation'.

Referring to the steel prices, prices or rise cannot be predicted so early or for the next few months, but it is deemed that the domestic steel price will remain lower than the MIP. Recently, the domestic prices of steel and Pig Iron Products in India took a shot up by 3000 INR which indicated a 15% rise as a whole. When we spoke to Mr. Sumit Khetan, he said, 'the focus on the rural budget and 7th Pay commission will surely fuel the demands for Pig Iron Products, Granulated Slag in India.

At present, if we see carefully, then the domestic sellers are somewhat trying to imitate the Chinese development strategy. Speaking about Neo Metaliks in Durgapur, we can see they are currently concentrating on maintaining the initial phase of some million tones. Depending on capital flows and prevailing demand, the design and planning for supplementary million tones for the other phases will be taken care of.

Steel is not having a good demand in the country but is expected to see a rise in the global market. If we talk about upcoming projects, the total capacity will rise to 10 million tones. From the sources, it is evident that investors will have reason to cheer as prices are slated to rise. The market is speculating demands for cast iron and many other elements. Major hot-rolled coil steel and pig iron manufacturers in Durgapur and other industrial belts have received price increments. These higher costs in the residential market platform are befalling after a break of 3 to 4 months and are anticipated to lift investor opinion.

Neo Metaliks Limited (NML) has been the finest Pig Iron Companies in India, dealing with the best quality for more than five decades. It is promoted by the leading hosiery goods company Rupa.

For more information, visit http://www.neometaliks.com/web/Company

Contact Details:

Neo Metaliks Limited

71, Park Street, "PARK PLAZA"  3E North Block, Kolkata-700 016.

Telephone: +91 33 4050 4050

Fax: +91 33 2217 7317

CIN No: U27109WB2003PLC097231

Email: info@neometaliks.com

Website: http://www.neometaliks.com/