Steel cos warned on price rise
PM, Montek Sound Stern Action, Cos Deny Cartelization, Blame Input Cost As rising steel prices are fuelling inflation in a major way, PM Manmohan Singh on Tuesday warned the domestic steel industry, saying it should not take advantage of global surge in steel prices. He said steel companies should not take advantage of global market manipulations and go for short term windfall gains, which in turn put upward pressure on prices.