Steel prices up by up to 10 percent. And there is room for more hikes

Many of the steelmakers raised prices in April, but contend that rates are still lower than international prices and cite robust demand from the auto sector as one of the reasons. The Competition Commission of India had launched a probe in February to check if steel companies have formed a cartel. Union Transport Minister Nitin Gadkari had alleged that steel companies were indulging in cartelisation.