Steelmakers in the country have reportedly raised prices of benchmark hot-rolled coil by up to ₹3,500 a tonne on the back of rising input costs due to soaring coal prices.
With increasing coal prices and high cost of raw material, it is difficult to sell steel at current prices, a company official said.
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, the official 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,” Chaube said.