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market | IST

Iron ore, steel prices to rise in H121, says S&P Global Platts

“The first half of next year is going to be very strong,” said Paul Bartholomew, Senior Managing Editor at S&P Global Platts in an interview with CNBC-TV18.

“The first half of next year is going to be very strong,” said Paul Bartholomew, Senior Managing Editor at S&P Global Platts in an interview with CNBC-TV18.
According to him, manufacturing will play a much bigger role, bigger than property and infrastructure.
“Generally, the global manufacture supply chains are being repaired, which is why we are seeing manufacturers doing a lot better now,” he said.
“Steel production is very strong and recovering in other global markets,” he added.
“The steel producers, including in India, cut a lot of production. The domestic demand in India has recovered, and there is a supply shortage of steel which is why we are seeing Indian steelmakers pushing up the price. They are expecting more price hikes in December,” he said.
“It is supply-driven and also a bit of demand-driven. I think there is more to come on the demand side,” he mentioned.
For entire discussion, watch video