Economy watch
Zooming steel prices are bad news for industry as well as consumers as several industries, like auto, real estate, consumer goods and others that use steel will see a rise in input costs.
Steel Prices
Status: $1,080 (Rs 46,440) per tonne on May 22, 2008
Impact: Zooming steel prices are bad news for industry as well as consumers as several industries, like auto, real estate, consumer goods and others that use steel will see a rise in input costs. Unless prices correct, this will severely impact domestic growth this year.
FII inflows
Status: Rs 1,244 crore till May 22, 2008
Impact: FII inflows have been quite erratic following the market crash in January this year. If this trend continues, the stock markets may be in for a long bear phase as there isn’t enough local money chasing stocks to offset the withdrawal of this deep-pocketed group of investors.
—Compiled by Anand Adhikari
