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 Rs 2079 to Rs 4158 a metric ton by December, said the officials, who did not wish to be named as they are not authorised to speak to media.
Prices for Australian coking coal have jumped 50 per cent to over Rs 29109 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.
