A senior industry executive said on Wednesday that steel prices are expected to rise in the coming months as companies buy three times more coal than a month ago.
VR Sharma, Managing Director of Jindal Steel and Power Ltd (JSPL) told PTI in a phone call that a tonne of coal, which was in the range of Rs 4,000-6,000 per tonne, now costs Rs 8,000 - Rs 12,000 per tonne.
He made these statements while answering a question about coal supply in India.
"Steel in India is currently in the range of Rs 50,000 - Rs 55,000 per tonne. Coal shortage has led to an increase in prices which will have an impact on steel and may increase due to this unprecedented increase," he said.
Comments
No comment yet.