High-flying graphite electrode companies in India face price curbs

Indian manufacturers of graphite electrodes used in electric arc furnaces are booming on the back of China's pollution crackdown, but soaring prices have set the companies on a collision course with government and steelmakers. 

In an unusual intervention, India's steel ministry is pushing for electrode makers to cut prices for smaller steelmakers after a 500 per cent surge in domestic prices, sources told Reuters. 

The government has also signalled it may introduce an export tax, aiming to boost domestic supply. 

India's two manufacturers account for about a quarter of global production and the moves could cut margins and pile even more pressure on