Steel prices to stay high amid pre-poll spending: Crisil

Domestic steel prices are expected to stay higher in this financial year despite a slowing global economy owing to pre-election spending, said CRISIL Market Intelligence and Analytics. It said in a note on Tuesday that prices are expected to remain at ?59,000 per tonne for flat steel and ?56,000 per tonne for long steel.

The commentary comes a day after India imposed anti-dumping duty on flat based steel wheels from China.

Smouldering domestic demand, increasing coking coal prices and production related dynamics in China, the world's largest steel maker, are also likely to prevent the slide of prices in India, said the note.