In the second half of 2010, iron and steel industrial restructuring and production capacity will be accelerated. Recently, many steel mills have stopped production due to renovations, which is also a major factor pushing up steel price. Domestic steel price are on the rebound, and this round of rebounding appears to involve all steel products -- the most prominent being for deformed bars and high steel wire rods.

Steel Prices Chart Steel Prices Index Update time:5/18/2013 Symbol (CFDs) Exp Last High Low Chg. Chg. % Time  Gold Jun 13 1357.75 1391.25 1353.85 -29.15 -2.10% 17/05  Silver Jul 13 22.190 22.743 22.112 -0.469 -2.07% 17/05  Copper Jul 13 3.316 3.345 3.281 0.021 0.64% 17/05  Brent Oil Jul 13 104.68 104.86 103.36 0.90 0.87% 17/05  Crude Oil Jun 13 96.29 96.29 96.29 0 0% 17/05  Natural Gas Jun 13 4.059 4.093 3.914 0.127 3.23% 17/05  US Coffee C Jul 13 137.00 141.28 136.78 -3.25 -2.32% 17/05  Live Cattle Jun 13 119.36 120.08 118.74 -0.50 -0.42% 17/05  London Coffee Sep 13 2057.00 2069.00 2056.00 -6.00 -0.29% 17/05  London Wheat Jul 13 182.15 186.00 177.50 -3.10 -1.67% 17/05  London Sugar Aug 13 477.60 480.05 474.60 1.55 0.33% 17/05  US Corn Jul 13 653.12 655.88 638.38 10.93 1.70% 17/05  US Cocoa Jul 13 2307.50 2316.00 2276.50 7.00 0.30% 17/05  US Cotton No.2 Jul 13 86.34 86.48 85.55 0.32 0.37% 17/05  US Soybean Oil Jul 13 49.55 49.90 49.31 0.03 0.05% 17/05  US Soybeans Jul 13 1448.50 1449.12 1424.38 20.90 1.46% 17/05  US Wheat Jul 13 682.62 689.62 680.62 -5.78 -0.84% 17/05

The MEPS Global Steel Price has fallen in July for the second consecutive month. Market demand is likely to be flat in the third quarter. This weak demand is forcing steel price down as customers have little business to place. In addition, fiscal tightening in much of the western world and China is stifling consumption of steel for infrastructure projects. Higher steel price from increasing input costs were translated into a reduction in the rate of growth in steel production in the second half of this year. If local/national governments have limited budgets then higher steel price, as a result of increased input costs, lead to less demand for the product.

Trade in Steel Futures Prices on the first trading day of the week was largely muted as the market hovered around previous steel closing prices, but slightly above it. Steel prices seemed to be looking for fresh directional clues before it assumed a fresh path.

NCDEX Steel Prices most active June futures traded at Rs.31260 per tonne, up 10 points at 17.45 PM IST. Meanwhile, steel long futures for July traded at Rs.30940 per tonne, down 0.32 percent and August futures at Rs.30750 per tonne, down 0.82 percent.

Steel prices are, however, being downgraded in the international market. The steel market prices