West Asia conflict to impact SAIL steel prices marginally: Official
Key points
- State-owned SAIL expects the ongoing West Asia crisis to have only a marginal impact on its steel prices and is establishing alternative shipping routes to ensure the uninterrupted supply of raw material from the region, a top company executive said.
- The company buys raw materials, such as limestone from Dubai, Ashok Panda, the newly appointed Chairman of the steel major, said.
- "So far as SAIL is concerned, we will have some impact with respect to the fluxes, limestone, et cetera, which we are buying from Dubai.
- So, the landed cost, the CFR (cost and freight) cost is going to go up, because it was around $23-$24, now it will be around $35," the official said in reply to a question related to the impact of the West Asia crisis.
- But overall, in sellable steel, its impact will be hardly ₹100 or ₹200, the chairman said.
Quick Summary
State-owned SAIL expects the ongoing West Asia crisis to have only a marginal impact on its steel prices and is establishing alternative shipping routes to
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to West Asia conflict to impact SAIL steel prices marginally: O.
Key Takeaways
- State-owned SAIL expects the ongoing West Asia crisis to have only a marginal impact on its steel prices and is establishing alternative shipping routes to ensure the uninterrupted supply of raw material from the region, a top company executive said.
- The company buys raw materials, such as limestone from Dubai, Ashok Panda, the newly appointed Chairman of the steel major, said.
- "So far as SAIL is concerned, we will have some impact with respect to the fluxes, limestone, et cetera, which we are buying from Dubai.
- So, the landed cost, the CFR (cost and freight) cost is going to go up, because it was around $23-$24, now it will be around $35," the official said in reply to a question related to the impact of the West Asia crisis.
- But overall, in sellable steel, its impact will be hardly ₹100 or ₹200, the chairman said.
📌 Source: The Hindu
The BriefWire