Indian steel companies plan to raise prices of various grades of the alloy due to rising import costs of coking coal, especially from major producer Australia, officials at four domestic mills said.
Steel mills are likely to raise rates by $25 to $50 a metric ton by December,
Prices for Australian coking coal have jumped 50% to over $350 a metric ton due to factors such as maintenance outages, lower than usual supplies from Queensland, and a slower train network, Banmeet Khurmi, a metallurgical coal analyst at London-based CRU, a commodity-focused research group, said.
