New Delhi, Sept. 23 -- Domestic steel prices are expected to remain firm in the near term as tight supply, import duties and elevated raw material costs encourage dealers to build inventory in anticipation of further price increases, brokerage firm Centrum Broking said in a report based on dealer interactions.

Centrum said any correction in steel prices is likely to be limited and could be deferred until late November or early December. The report noted that supply remains tight, with allocations from primary producers falling short of demand and dealers often receiving only 50-75 per cent of the volumes they request.

"Steel dealers have shifted from need-based purchasing to actively building inventory in anticipation of further price i...