Steel companies roll over prices

Together, iron ore and coking coal account for about 75% of the total cost for steel

Steel companies have rolled over prices this month, in spite of a cost push, primarily due to a weak demand.
 
A producer said the demand was too weak to pass on any increase in raw material prices.
 
The price of coking coal surged by 100 per cent to around $310 a tonne in April 2017, which was nearly to the peak levels of last year, but it has already corrected to around $190 a tonne.
 
“Iron ore prices in India have, however, more or less been maintained. In India, public sector miner NMDC revised prices of lump