Press Information Bureau
Government of India
Ministry of Steel
20-December-2012 16:40 IST
The Minister of Steel, Shri Beni Prasad Verma has said that the prices of steel items in thedomestic market have been fluctuating in accordance with the domestic market conditions, international steel prices, raw material prices and other inputs. A table indicating quarterly price movement in respect of HR Coil and TMT bar in the domestic market for the period from December, 2009 to November, 2012 is at Annex-I. A table indicating the quarterly price movement of critical raw materials like iron ore and coking coal for the period from December, 2009 to November, 2012 is at Annex-II.
In a written reply in the Rajya Sabha today Shri Verma said, the prices of crucial raw material, Coking Coal have increased (in rupee terms) by 7.78% and that of Iron ore by 29.56% (in rupee terms) during the last 3 years. On the other hand, prices of steel products like Hot Rolled Coil and TMT bar have increased by 38.06% and 53.54% respectively during the said period due to increase in cost of crucial raw materials, labour, transportation and other inputs.
As per information available no case of cartelization in steel sector has been reported during the last three years, the Minister said.
Annex-I
Retail Steel price Movement in Delhi Market during December 2009 to November 2012
Rs/tonnes
Month | Hot Rolled Coils 2.00mm | TMT 10mm |
Dec. 2009 | 35310 | 32290 |
March 2010 | 36240 | 35100 |
June 2010 | 44660 | 39210 |
Sept. 2010 | 43320 | 36350 |
Dec. 2010 | 44840 | 36930 |
March 2011 | 45540 | 41990 |
June 2011 | 43330 | 43220 |
Sept. 2011 | 43210 | 43870 |
December 2011 | 47430 | 46370 |
March 2012 | 47630 | 47670 |
June 2012 | 49050 | 50280 |
September 2012 | 48840 | 49580 |
November 2012 | 48750 | 49580 |
Indicative price in Delhi market inclusive of transportation, taxes & duties (Source:JPC)
Annex-II
Price of Critical Raw Materials for Steel During December 2009 to November 2012
Month | $/Tonne * | Exchange Rate Rs. Per US $ ** | Rs. / Tonne *** |
Coking Coal | Iron Ore | Coking Coal | Iron Ore |
Dec. 09 | 172.5 | 110.0 | 46.67 | 8051 | 5134 |
Mar. 10 | 232.5 | 143.0 | 45.59 | 10600 | 6520 |
Jun. 10 | 225.0 | 148.5 | 46.41 | 10442 | 6892 |
Sep. 10 | 202.5 | 145.5 | 46.81 | 9478 | 6810 |
Dec. 10 | 222.5 | 173.5 | 45.33 | 10086 | 7865 |
Mar. 11 | 325.0 | 173.5 | 45.25 | 14705 | 7850 |
Jun. 11 | 310.0 | 176.0 | 44.76 | 13876 | 7878 |
Sep. 11 | 302.5 | 186.5 | 47.55 | 14385 | 8869 |
Dec. 11 | 225.0 | 141.5 | 53.54 | 12046 | 7575 |
Mar. 12 | 214.5 | 148.5 | 50.38 | 10806 | 7481 |
June 12 | 223.5 | 137.5 | 55.41 | 12385 | 7619 |
Sept. 12 | 146 | 103.5 | 54.30 | 7928 | 5620 |
Nov. 12 | 158.5 | 121.5 | 54.75 | 8678 | 6652 |
Note: Price of Coking Coal are spot prices of hard coking coal FOB Australia |
Price of Iron Ore are spot prices of 63.5% Fe Iron Ore CFR China |
(Source: * SBB, as provided by Economic Research Unit, Ministry of Steel; ** Economic Research Unit, Ministry of Steel *** Estimated by Economic Research Unit, Ministry of Steel) |
***
NSK/DB
Cartelization absence confirmed: steel prices tracked input cost and market fluctuations, with no cartel cases reported. The Ministry reports that domestic steel prices varied with market conditions and rising input costs; tables for HR Coil and TMT retail prices and for coking coal and iron ore spot prices from December 2009 to November 2012 are provided, and, based on available information,
no case of cartelization in the steel sector has been reported during the last three years.
TaxTMI 
AI Drafter ✕
TaxTMI 
