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Steel prices in India may come under pressure as govt mulls ‘corrective’ steps
Steel companies have argued that they have been forced to raise prices as prices of iron ore, their primary raw material, have more than doubled since June and were currently costing them Rs 8,000 a tonne. December 24, 2020 / 04:34 PM IST
Akashdeep Metal Industries | Non-promoter entity Anisha Impex Ltd alongwith PACs increased stake in the company to 16.91 percent from 12.52 percent earlier, via open market transaction. (Image: Reuters)
Steel prices in India, which have surged 55 percent in the last six months, are likely to come under pressure as the Union government is expected to take some “corrective” steps.