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Hyderabad, Nov. 4 Steel majors NMDC Ltd, Kudremukh Iron & Ore Company, Tata Steel, SAIL, Essar Steel, Jindal Stainless Ltd, Fortescue Metals Group Ltd (Australia), HYL Technologies (Mexico); Hatch Beddows (UK), etc, are expected to take part in a three-day conference on ‘Indian Steel Making Raw Materials’ to be held in Hyderabad during November 10-12, 2008.

mjunctionedge, the content and conference division of mjunction Services Ltd, the eCommerce company promoted by SAIL and Tata Steel in association with Metal Bulletin, Events, UK, is organising the meet.

The conference aims to identify the concern areas of steel making from the raw materials perspective considering the whopping 60 per cent increase in the cost of producing steel in the current year.

From a macro economic perspective, steel and steel products contribute as much as 21 per cent to inflation rate, a press release said.

Prices of steel products and steel making raw material markets are now plummeting in the global spot markets. The spot freight market has collapsed by 90 per cent and scrap, coal and ferro alloy prices have also seen significant price erosion.

The price fluctuation will have a huge impact on the profitability and expansion plans of the entire industry.

It will also have a significant impact on the long-term price negotiations for next year. The entire market has moved from being a ‘sellers market’ to a ‘buyers market’, the release added.

Commenting on the conference, Mr Viresh Oberoi, Managing Director, mjunction Services Ltd, said, “I am optimistic that this conference will bring forth various national and international perspectives relevant to the sector through which industry can think and act cohesively on the way forward.”

More Stories on : Steel | Events | Andhra Pradesh

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