Steel Prices may Increase in Coming Months due to Coal Shortage: JSPL MD

Jindal Steel and Power Ltd (JSPL) Managing Director, Mr. V. R. Sharma, in a press byte given to news agency PTI has said that Steel prices are expected to increase in the coming months as companies are buying Coal at 2-3 times the rates a month ago.

In responding to a question related to the supply of Coal in India Mr. Sharma said “A tonne of coal, which was in the range of Rs 4,000-6,000 a tonne, is now costing Rs 8,000-Rs 12,000 a tonne“. “Steel in India at present is in the range of Rs 50,000-Rs 55,000 a tonne. Shortage of coal has led to an increase in its prices that will have an impact on steel which may also go up due to this unprecedented rise“, he further added.