Expecting another price hike in next week, will have to pass on price hike, says Sarda Energy

Steel prices have been on a tear lately with sources telling that NMDC has hiked product prices yet again in December. To understand what this means CNBC-TV18 spoke to Manish Sarda, Director at Sarda Energy.

On price hike from NMDC, Manish Sarda said, “Iron ore prices have been increased. You are right NMDC has hiked the prices and we have our own iron ore mines so we get almost 50-60 percent of our own captive mines. We buy iron ore from the market so it will have an impact, but it is not going to have a great impact because we try to have an economic blend of both.”

On steel price increase Sarda said, “If you take in the average steel price increase everything put together I think the average price increase in the last three months would be around 24-32 percent depending upon products.”