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      FEMA & RBI

      Cartelization in Steel Sector

      December 20, 2012

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      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)

       

      ***

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