Owing to rising raw material prices, steel prices are not likely to come down, Managing Director of Tata Steel H M Nerurkar said today.
"Steel prices will not come down as raw material prices are rising," Nerurkar told reporters on the sidelines of a CII event here.
He said that prices are likely to fluctuate in the $20 band.
Asked whether Tata Steel is planning to sell its South African unit, Nerurkar said "it is not so".
"We are not contemplating to sell the unit. But interested parties are there," he said.
Nerurkar said that Tata Steel is planning to re-finance $5.5 billion for which it is talking to a number of parties.
The re-financing would be done for its European operations.
Tata Steel's total debt stood at $9.5 billion.
The company is also scouting for a ferro-chrome mine, he said.
