The Steel Authority of India (SAIL) chairman today said steel prices will not increase significantly.
"I do not see steel prices firming much," SAIL Chairman and Managing Director S K Roongta told reporters here.
When asked what impact the rising rates of raw materials like iron ore and coking coal will have on steel prices, he said: "...To that extent it will put pressure on the prices."
On February 2, SAIL had raised prices of flat products by Rs 500 per tonne.
Recently, Tata Steel Managing Director H M Nerurkar had also indicated that steel prices are likely to stay stable till March.
Prices of iron ore and coking coal are increasing gradually. Iron ore, coking coal along with the ferro-alloys are key input in making steel. Domestic steel prices are hovering in the range of Rs 26,000-35,000 tonne.