homebusiness NewsCost of making steel in India has gone up by Rs 6000 per metric tonne, says this steelmaker

Cost of making steel in India has gone up by Rs 6000 per metric tonne, says this steelmaker

While speaking to CNBC-TV18, RK Goyal, MD of Kalyani Steels said the cost of making steel increased to Rs 6,000 due to direct impact of raw material inflation.

By Sonia Shenoy   | Nigel D'Souza   | Prashant Nair  Jan 12, 2023 12:34:48 PM IST (Published)

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While speaking to CNBC-TV18, RK Goyal, MD of Kalyani Steels said the cost of making steel increased to Rs 6,000 due to the direct impact of raw material inflation.
“Rs 6000 (per metric tonne) is the cost increase on account of direct raw material price. But the way overall cost structure has gone up, in the process, the working capital requirement has gone up by 80-100 percent in the last one-one-and-a-half year coupled with 3-4 percent increase in interest rates and this has also impacted us substantially by way of financial cost on our working capital,” he said.