The forging industry on Thursday urged the government to ban steel and iron ore exports, as domestic steel prices shot up 25-30% in the last three months due to increased exports and squeezed supply in the local market.Forging steel manufacturers have hiked prices by 10 per cent over the last six months and now looking for a further 15% increase.The initial increase was impossible to sustain, and the further hike in prices will prove to be disastrous, Association of Indian Forging Industry said in a release.As much as 80% of the `34,000 crore domestic forging industry comes from the automobile industry.
