Steel price vroom vroom ~~ Are you ready ?

BHP jacks up coking coal prices 55%

Mumbai: BHP Billiton, the world’s top coking coal producer, has signed a coking coal deal with Indian steelmakers at $200 per tonne, up 55% from last year’s prices.

Pawan Burde, vice president (research), PINC Research said the industry was expecting a price rise of around $180 per tonne. “Steelmakers will have to increases prices by $60-70 per tonne.” Burde believes due to the strong steel demand in the country and robust auto and infrastructure spending, passing on this cost to the consumers won’t be a problem.

So Steel kaki, are you ready for roller coaster ??