Ann: Shareholder Update-ESI.AX, page-41

Further to Megagene's post.

MUMBAI, AUGUST 30:  
Steel prices are likely to go up by ₹2,000-2,500 ($30 - $37 US) a tonne starting September with the sharp rise in raw material cost and signs of a revival in demand.


Key factors
Steel production cost has gone up ₹5,000 ($75 US) a tonne in the last eight months with coking coal prices touching $127 a tonne now from $75 in January and zinc costs 50 per cent higher at $2,215 a tonne, said a senior JSW Steel official.

Iron ore prices are up 45 per cent at ₹61 a tonne while the 19 per cent increase in the Railways freight rate will lead to additional cost of ₹300 crore a year. “We have no other option but to pass on the incremental cost to consumers by increasing prices by ₹2,500 a tonne,” he said.

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