New Delhi: The Government will call a meeting of iron ore producers next week and asked them to cut their prices so that steel makers are able to get raw materials at reasonable cost.

"We have called a meeting of the iron ore producers on April 1. We will persuade them to reduce prices and any hike in the export duty will be the last resort for the Government," Commerce Secretary G K Pillai told reporters here.

Faced with high inflation touching almost 6 per cent, the Government has being making efforts to persuade both steel manufacturers and iron ore producers to keep the prices in check.

However, the prices of steel and iron ore were going up in the recent past creating difficulties for a host of industries, including the automobile.

The iron ore miners and the steel producers have being engaged in a running feud over the export of the precious mineral while the steel producers want the ore export to be banned, the miners have being resisting the move.

Meanwhile, steel producers had agreed to stop exports immediately on government's concern of the rising prices of the alloy.

Steel producers met the top brass of the Steel Ministry on March 25 and conveyed that they also shared the government's concern on rising prices and inadequate availability of steel.
Source : PTI