Verma, the Chairman of Steel Authority of India Limited (SAIL) said that its steel export prices have remained firm over the past few months despite of the decreased demand in the financial report conference.

He added that the coking coal price surged sharply to reach US$330/ton in the beginning of this year due to severe flood in Australia. Thus, its sales profit was affected severely in the fiscal year 2010/11 as the input costs soared by 66%.

However, he has seen that its steel export prices would keep firm in the near future due to growing demand after monsoon season.

SAIL is currently operating the expansion plan. The company planned to raise the annual output to 24 million tons in fiscal year 2013/14 from the current 14 million tons.

Furthermore, it expected its annual production would reach 45 million ~ 60 million tons in 2010 after the Lakshya project is commissioned.