SAIL hikes prices of some long products by 2.5%

Company said prices were rolled over for all flat, long products, as they were prevailing during March

State-run Steel Authority of India (SAIL) today said it has hiked the price of some long products by 2.5% with effect from April 1.

"For some sections of structurals [light and medium], a marginal increase [2.5%] was taken. However, sales in these categories are about 3% of the total sales of SAIL," the company said in a statement.

According to SAIL's website, the company has hiked the price of TMT Bar (8mm) by Rs 500 a tonne to Rs 41,000 a tonne. It also hiked the price of angle (65X 65 X 6mm) and channel (200X75 mm) by Rs 1,000 a tonne to Rs 39,500 a tonne.

The company, however, said, "For April, 2012, prices were rolled over for all flat and long products of SAIL, as they were prevailing during March. Thus, there is no such increase in the prices."

Domestic steel makers raised the prices for both long and flat products by up to Rs 1,500 a tonne, to partially offset the inflated production cost due to hike in freight rates with effect from April 2.