'Very large' cost hike for steel industry can come next qtr: Seshagiri Rao

Senior executive of JSW Steel sees 'distortions in market' after Russian invasion of Ukraine

Raw material costs have surged for Indian steel companies after Russia invaded Ukraine on February 24. Seshagiri Rao, joint managing director and group chief financial officer at JSW Steel, told Ishita Ayan Dutt the surge in raw material may be temporary as demand-supply dynamics play out but the company is working on ways to mitigate impact.

Here are edited excerpts from an interview.

The steel industry is facing headwinds, with a surge in raw material prices. What impact will it have on JSW Steel?

There is a big impact on cost--iron ore and coking coal prices have gone up. Over and