“Steel prices should correct around Rs 8,000 to Rs 10,000 per tonne from the current levels of Rs 69,000 and steel margins for integrated players who have captive iron ore and coal should correct by around Rs 8,000-9,000 per tonne whereas the non-integrated guys who are buying iron ore have an advantage because iron ore prices will come down. So, for them, the margin compression will be Rs 7,000.”
