August 30, Indian and Japanese steel mills and Australian coal suppliers to reach an agreement, agree to four-quarter contract prices of $ 205 / ton, more than three quarters of $ 225 / ton, down $ 20 / t, but the contract price still higher than expected in the steel industry.
Although steel prices fell, but the price of coal and iron ore has not been loose, the face of the pressure of rising costs, the steel mills did not only raise prices
of JSW said. In addition world pie network information , India after the stocks have fallen sharply, the end-user demand tends to increase World Pipe network informed.
Indian steel prices since May of this year all the way down, down about 25% of India's major steel manufacturer, Steel Authority (SAIL), Tata Iron and Steel Company, Beijing the Dele Xi Nanjing Iron and Steel Company (of JSW), Essar and Ispat Industries Corporation plans to raise prices, said the average rate of increase in 1000-1500 rupees / ton.
Currently, hot rolled coil prices in India is about 31,000 rupees / ton, down about 25 percent from May this year, but coking coal is only down 8%, iron ore rise, not fall about 25 percent. Coking coal and iron ore, steel-making costs about 75% -80%.