India’s anti-trust regulator, Competition Commission of India (CCI) is investigating if steelmakers colluded to hike rates, which have shot up by more than 45% since Jun ’20. The demand for an investigation into the price hikes had been voiced from several quarters, including auto and real estate industries that use steel. Union Road Transport Minister Nitin Gadkari, in Jan ’21 also alleged that steel companies were indulging in cartelisation.
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