Cartelization in Steel Sector

Press Information Bureau

Government of India

Ministry of Steel

20-December-2012 16:40 IST

The Minister of Steel, Shri Beni Prasad Verma has said that the prices of steel items in the domestic market have been fluctuating  in accordance with the domestic market conditions, international steel prices, raw material prices and other inputs.  A table indicating quarterly price movement in respect of HR Coil and TMT bar in the domestic market for the period from December, 2009 to November, 2012 is at Annex-I.  A table indicating the quarterly price movement of critical raw materials like iron ore and coking coal for the period from December, 2009 to November, 2012 is at Annex-II.

In a written reply in the Rajya Sabha today Shri Verma said, the prices of crucial raw material, Coking Coal have increased (in rupee terms) by 7.78% and that of Iron ore by 29.56% (in rupee terms) during the last 3 years.  On the other hand, prices of steel products like Hot Rolled Coil and TMT bar have increased by 38.06% and 53.54% respectively during the said period due to increase in cost of crucial raw materials, labour, transportation and other inputs.  

As per information available no case of cartelization in  steel  sector  has been reported  during the last three years, the Minister said.

Annex-I

Retail Steel price Movement in Delhi Market during December  2009 to November  2012

Rs/tonnes

Indicative price in Delhi market inclusive of transportation, taxes & duties    (Source:JPC)

Annex-II

Price of Critical Raw Materials for Steel During December 2009 to November 2012

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NSK/DB