Explained | 5 reasons why commodities prices have jumped in recent weeks
Industrial metals such as copper, iron ore and palladium have seen a sharp rise so have crude and rice. Steel prices have risen 55 percent in India in the past six months, forcing the road transport minister to raise the issue with PM Modi.
December 21, 2020 / 05:10 PM IST
Prices of almost all commodities, barring milk, poultry lead and a few others, rose in the global market in the previous week. A similar uptrend has been seen in Indian markets for steel, aluminium and other metals, with concerns being raised.
Minister for road transport and highways Nitin Gadkari has written to Prime Minister Narendra Modi, expressing concern over a 55 percent increase in steel prices in the last six months. The spike, the minister said, was making infrastructure projects unviable.