Govt working to make iron ore available at reasonable prices for small steel producers
MUMBAI, The Ministry of Steel is formulating a policy to protect small steel producers hit by volatility in iron ore prices by making it available to them at a ‘reasonable’ price.
Recently, the Government made Coal India supply a specific quantity of coal in e-auction at a fixed base price, including the cost of production and pre-determined profit. The coal e-auction is also restricted to specific region to limit competition and sharp surge in prices. A similar model is being worked out for iron ore. The Hindu Businessline