After a price cut last month, India steel makers expected the price would be going up soon as international steel market is picking up.

At present the Chinese steel prices have been increased by 5 to 8 percent due to a price rise in the iron ore from US$75/ton levels early this year to above US$130/ton currently.

Currently the imported steel costs are around Rs25,500/ton while the Indian steel costs Rs26,500-27,000/ton but the situation will change soon. In general, September is the good season of strong steel demand in India and all Indian steel companies will not miss this opportunity to hike steel prices and improve their realizations.