Steel prices have been on a tear lately with sources telling that NMDC has hiked product prices yet again in December. To understand what this means CNBC-TV18 spoke to Manish Sarda, Director at Sarda Energy.
On price hike from NMDC, Manish Sarda said, “Iron ore prices have been increased. You are right NMDC has hiked the prices and we have our own iron ore mines so we get almost 50-60 percent of our own captive mines. We buy iron ore from the market so it will have an impact, but it is not going to have a great impact because we try to have an economic blend of both.”
On steel price increase Sarda said, “If you take in the average steel price increase everything put together I think the average price increase in the last three months would be around 24-32 percent depending upon products.”
“Pellets prices are around Rs 11,300-11,400 range and the prices in October were at around Rs 8,600-8,700, and again we have seen a price hike of iron ore from NMDC so they will definitely be some price hike which will come up again in next week or so and you have to pass on the price increases,” he said.To know more watch this video.