Steel sector revival likely after April

Spot prices of premium hard coking coal have come off a high of $310 in Nov to $222 a tonne

Iron ore prices are retreating, coking coal has come off its highs and international steel prices are elevated, the future looks bright for the steel industry, but the good times are likely only in the next financial year.

Spot prices of premium hard coking coal, one of the key inputs for steel, have come off a high of $310 in November to $222 a tonne. But contract prices for the fourth quarter are still high at $285 a tonne. 

Experts tracking iron ore are forecasting a slide in 2017 to around $52 a tonne. At present, global prices are $80