Higher raw materials prices to impact margins: JSW Steel

Mumbai : Steel producer JSW Steel today said higher raw material prices are likely to keep margins pressurised during the June quarter. "Coking coal prices have increased to $330 per tonne now from $225 in January-March on an average. Iron ore prices have risen by $50 per tonne compared to last year. This may impact profit margins," JSW Steel Director (Commercial and Marketing) Jayant Acharya told reporters here.

"Iron ore prices have gone up and steel prices have accordingly reacted to this," Acharya said, adding, steel prices will "continue to react". The company produced 1.64 million tonne of steel during the January-March quarter, while its annual steel production was up 7% at 6.42 million tonne.