The Indian steel price is expected to rise by Rs 1,000~Rs1,250/ton (US$25~30/ton) in the coming 3~4 months driven by robust growth in demand and anticipated increase in iron ore and coal prices in the next quarter, according to the market analysts.

An official of Jindal Steel and Power predicted that the steel consumption will grow by at least 10% in domestic market; accordingly, the strong growth will strengthen steel future price.

At the same time, the auto companies also expect that steel price would harden further as steel consumption in auto industries is growing steadily.