Steel companies raise prices by upto Rs 2,400 a tonne, more hikes expected

Since India entered the unlocking phase, steel prices have been on a continuous uptrend

Amid the noise around rising steel prices, the rally continued in the new year with some companies increasing prices by Rs 1,000-2,400 a tonne and indicating more hikes in the coming weeks.

A primary producer said that the prices would be raised in tranches this month and the total increase could be Rs 6,000 a tonne. “The first tranche is already effective. We have increased hot rolled coil prices by Rs 1,500 a tonne and rebar by about Rs 2,400 a tonne,” he said.

Jindal Steel & Power (JSPL) has increased prices by Rs 1,000-1,500 a tonne. V R Sharma,