The rising prices of coking coal, a key input for steel manufacturing, may limit the margin recovery of steelmakers who have given a guidance for better margins in the latter half of this financial year after a tough first two quarters.
Prices of coking coal, which is largely imported, have reached almost $300 per tonne (CNF Paradip) after hitting a low of around $210 in the first week of August, according to data from SteelMint.