Steel Ministry's additional secretary Rasika Chaube has said that steel prices in the country have risen but are still competitive as compared to prices of the metal in the international markets, driven by the market dynamics. Steelmakers in the country have reportedly raised prices of benchmark hot-rolled coil by up to Rs 3,500 a tonne on the back of rising input costs due to soaring coal prices. She said ‘Steel prices follow global trends and now stay at a higher level. If compared to international markets, our prices are still low. It is a deregulated sector and market dynamics has an influence on it’.
Chaube said the Centre envisioned the transformation of eastern India as a potential integrated steel hub through Mission Purvoday. He added ‘East is foreseen to contribute 80-90 million tonne in the estimated 250 million tonne production by 2030’. The government intends to eliminate bottlenecks in the process of expediting investments through the creation of land banks, ensuring availability of iron ores at competitive prices and providing statutory clearances on time.
Mission Purvoday is also intended towards establishment of ancillary downstream clusters and value-added products. The minister said ‘The government has identified 11 zones along with nine clusters for the purpose and is all set to launch its pilot steel cluster in Kalinganagar, Odisha’. She said the government is also focusing on using inland waterways in a big way to decongest ports of eastern India.
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