An Indian steel company says flat steel prices are likely to rise next month due to cost support — it plans to raise prices by 750 to 1,000 rupees per tonne.

“Iron ore prices are up 450 rupees in the last few months and coking coal prices are up about 5 percent.The rise in raw material prices will have some impact on steel prices.”A major steel producer said.

Miners raised ore prices by 400-600 rupees in February.Shipping costs have been rising because of supply disruptions in Brazil.Global iron ore prices have risen $20 a tonne to $108 a tonne in the past two months.

According to an April report by Icra, a rating agency, domestic blast furnace coking coal costs increased by rs 800 per tonne in the fourth quarter of 2018-2019 compared with the previous quarter.This adds about 630 rupees to the total cost of making steel.