According to Mr Amitabh Panda chief of procurement of TATA Steel on the sidelines of a conference, steel prices in the country are set to go up on account of rising input costs and demand for the commodity.

Mr Panda said that "Cost of raw material, including iron ore and coking coal is expected to go up by 25% to 30% in the next financial year from the current level putting pressure on steel makers to pass on the burden to consumers.”

Mr Panda said that unlike the West, where steel demand is still recovering from the impact of the economic slowdown, in India, steel producers would be able to pass on the input cost pressure to the consumers as off-takes are steadily growing. He added that "Indian steel producers have to price their products higher in the next fiscal.”