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Wednesday, June 08, 2005

bang on target on steel prices

"I wonder what this will do to commodity prices like steel, coal, which are at alltime highs. Some rapid cooling off of prices should be in the offing and these stocks should follow suit." - March 5, 2005 post.

Indeed, steel has had a rapid cooling off and i dont follow coal prices. Steel baron Lashmi Mittal has lost 35% of his wealth. I wanted to see the decline in steel prices and how the BSE metal index has moved during the period, but then though will give it a pass. It would be fair to assume that steel prices have declined by 10-15% and the index 20%

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