Steel prices likely to move up in 3-4 months

Driven by a strong domestic demand from the automobile, infrastructure and other allied sectors, steel prices are likely to increase by $25-30 (Rs 1,000 1,200) per tonne in the next three to four months, according to industry experts.

Steel-makers feel that better international prices and increase in coking coal and iron ore prices would also lead to the metal's price increasing. It is currently pegged at Rs 30,000 per tonne.

"We expect steel prices to firm-up in the coming months.

In the next three to four months, prices may go up by another Rs 1,000 per tonne as domestic demand firms up. Prices of coking coal as well as input costs have risen," a top official at Essar Steel told PTI on condition of anonymity.