Amid higher costs, steel firms may raise prices in the coming months

CRISIL Research and industry experts say a recovery in domestic demand since the second half of September can also prompt the hikes

Steel companies raised prices in October after three months, but there could be more hikes in store over the next few months on the back of cost inflation, said a research firm.

In the last five months, prices of coking coal (larger part of raw material cost structure for Indian mills) have more than tripled to $390 per tonne as of October first week, according to CRISIL Research.

Industry sources added that prices of thermal coal FOB Australia was up by more than 150 per cent since April. In addition, ferroalloy, natural gas, zinc prices also jumped, adding to the