India's Tata Steel Ltd expects lower steel prices in the July-September quarter in India and Europe, aided by a fall in the prices of coking coal, a key raw material, its chief executive and managing director said on Tuesday.
A labourer works inside a steel factory in the northern Indian city of Kanpur July 20, 2009. REUTERS/Pawan Kumar/File Photoexpects lower steel prices in the July-September quarter in India and Europe, aided by a fall in the prices of coking coal, a key raw material, its chief executive and managing director said on Tuesday.
The company, backed by India's Tata Group, sees Indian steel industry prices in line with prices globally and not impacted by aggressive imports, Narendran said. The company has been in talks with the UK government to seek support for its transition to the so-called "green steel" - produced without the use of heavily polluting fossil fuels such as coal in the melting process - as some of its downstream assets are nearing the end of their cycle."There is an urgency in our conversation with the government. The government understands that," he added.
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