Tata Steel's raw material costs may go up by $1 bn

Tata Steel Ltd. | Steel & Iron Products | Metals & Mining | BSE: 500470 | NSE: TATASTEEL

11 Mar 2011 Evaluate

Tata Steel’s expenses on key raw materials are likely to go up by $1 billion in the current financial year to $7 billion due to a rise in input costs. The costs on inputs would further escalate by around 15 per cent next financial year over 2010-11 levels attributing the rise to higher iron ore and coking coal prices, which went past $300 a tonne as a result of a global scarcity in the wake of floods in Australia’s Queensland. Steel prices, as a result, will go up next financial year as the manufacturers of the alloy are unlikely to absorb the escalated input costs on the back of increased demand for the alloy.

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