Reuters reported that TATA Steel expects that iron ore prices are headed as much as 35% higher this year and will likely pressure the profit margins of steel companies.

Mr B Muthuraman vice chairman of TATA Steel during an interview said “I don't know where it's going to settle down, but it does look 25% to 30% to 35% higher.”

He added that “It may be possible that the steel prices may not go up by that much. This means the steel companies will come into margin pressure.”

(Sourced from Reuters