The steep fall in global iron ore prices is seen benefitting steel producers, such as JSW Steel, Tata Steel and SAIL. Iron ore prices have hit five-year lows of around $85 a tonne on global oversupply combined with decreasing interest from the largest consumer China. Iron ore accounts for 25-30 per cent of total production cost of steel. According to analysts, JSW Steel will gain the most as the company is already importing a large amount of the raw material.
Source: The Hindu Business Line
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