India is on a spending spree, primarily directed towards infra structure. Even as domestic demand for the metal keeps booming, steel makers across the country seem to be sulking. It probably has to do with coaking coal a key raw material used to forge steel. Prices of australian coaking coal have surged from 200 dollars to a staggering 700 dollars a ton due to supply side constraints and other such things. And it's hurting indian steel makers.