India’s steel regulatory body is ready
Indian Steel Ministry Ram Vilas Paswan has recently announced that steel regulatory body for monitoring and stabilizing prices in metal industry is ready.
According to the laws, this regulatory body has the right to ask steel producers not to hike their prices.
Although the date when the regulatory body will be commissioned has not been announced yet, it is stated that it may be commissioned any day.
In fact, major steel producers in
India, Steel Authority of
India Ltd (
SAIL) and Tata Iron and Steel Corp (TISCO) have recently increased their prices due to the increase in the
freight rates. Besides, certain steel producers are expected to increase their prices following the National Steel Consumers' Council meeting today.