In India, steelmakers had to follow their global peers and cut steel prices by up to Rs 3,000 a tonne, or four to five per cent
For the steel industry, the near term looks uncertain. Though prices of raw materials such as iron ore and coking coal are rising, demand from the automobile, construction and capital goods sectors remains low. Through the last quarter, steel and raw material prices fell, owing to the crunch in global demand. However, now, coking coal and iron ore prices are on the rise again and steel companies have to take a hit on their margins till raw material prices moderate or demand improves. Then, they would have the room to pass on the high input costs to customers.
Technology Partners: MimirTech
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/steel-industry-reeling-under-high-input-costs
[2] http://admin.indiaenvironmentportal.org.in/category/author/shubhashish
[3] http://admin.indiaenvironmentportal.org.in/category/newspaper/business-standard-new-delhi
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/india
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/iron-and-steel-industry-0
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/coal
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/iron
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/minerals
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/industry
