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Steel prices are set to go up by about 5% later this week due to higher raw material costs, making it the second price hike in two months in the world’s fastest-growing steel market after China. This is likely to increase the price of cars and consumer goods, which are among the largest users of steel. Steel companies, including JSW, Tata Steel, SAIL, RINL and a host of medium and small producers, could be raising product prices anywhere between 1,000 and 1,500 per tonne.SAIL and JSW Steel had increased product prices in December by an average of 500 per tonne.
The price hike will be applicable on flat steel products, like hot rolled and cold rolled steel items, which are used in consumer durables and cars. Auto makers like Tata Motors, for instance, have already announced price hike on commercial vehicles. This could lead other makers of passenger cars like Maruti, General Motors and Hyundai Motor to follow suit. The rise in raw material prices is also likely to push up prices of long products of steel, which are typically used in construction and infrastructure projects like roads, bridges and airports.
Raw material prices have become dearer due to a number of factors. While domestic demand is strong, increased purchases by China, the largest steel producer, has pushed up prices. According to the European Confederation of Iron & Steel Industries outlook for 2010-11, steel market in Europe is also expected to sustain signs of a recovery in consumption in 2011.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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