It is reported that the steel mills in India are considering a price hike for about US$15/ton starting from January in 2014 due to the increased domestic railway freight charges which imposed peak session charge from October and raw material cost of iron ore, such proposed price hike will probably push the price of hot rolled coil to US$620/ton from US$605/ton. It is said the elevated cost has added up the total cost up to US$11/ton roughly. In September, the Indian steel mills have boosted the steel prices by US$40/ton but holding on to it since then even though the NMDC, state-controlled mineral producer of the Government of India, raising the price of iron ore by about US$1~US$2/ton.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67796&division=A2
