The prices of steel has increased by 55% in the last six months but the prices are likely to drop by 20% as the Union government plans to take corrective measures to ease the supply of iron ore & lower the import duty.
Even the Union Minister Nitin Gadkari has voiced his concern in this matter. Steel companies said that are forced to raise the prices as they are charged doubled for there primary raw material, iron ore which is costing them 8000 a tonne.
