 "steel")
After long products, global cues may prompt a price correction in flat products.
Long product prices were revised downwards by 5 per cent in November, said a major producer. A call on price correction in flat products would be taken in December but industry sources said there were indications the downward revision could be to the tune of Rs 1,000 a tonne or more.
In November, steel producers had tried to increase flat steel prices by Rs 1,000-1,500 a tonne but could not pass it. Prices ultimately were rolled over.
Globally, the sentiment had weakened, said sources.
US prices for
