Steel firms extend falls on reports of royalty increases

Reuters Market Eye - Steel shares extend falls: Steel Authority of India down 2.8 percent, while Tata Steel is 1.5 percent lower.

Media reports that government will increase royalty payments for iron ore and bauxite. (http://bit.ly/1tsYnrP)

Falls add to earlier pressure after a private survey showed softness in China's factory data.

(Reporting by Abhishek Vishnoi)