Steel prices increased upto Rs 1,500 per tonne

Expecting demand to pick up in 2014, most of the domestic steel producers have raised the steel prices between Rs 1,000 to Rs 1,500 per tonne. This move is aimed to offset increase in input and transport cost. As per recent communiqué from Ministry of Steel,India is currently the fourth largest producer of crude steel in the world. The per capita steel consumption has risen from 42 kg in 2006-07 to 60 kg in 2012-13. Real consumption of total finished steel (alloy non alloy) has grown at a CAGR of 7.8% during the last six years.