After back-to-back downward corrections, steel prices are expected to rise from July due to high input costs, an industry executive said on Wednesday.
“While coal price is at Rs 17,000 a tonne, iron ore prices by Odisha Mineral Corporation are still high. It is the main supplier of iron ore in Odisha,” JSPL Managing Director V R Sharma told PTI on the sidelines of an event organised by the Indian Chamber of Commerce here.
“The prices have already bottomed out. There is no chance of reducing them further. There will be an upward price correction from Friday, July 1 by (primary players) mainly on account of higher input costs,” he said.
