After two months' resistance, steel prices rise again in Feb on cost push

Companies discuss special pricing for MSME customers with government

After a pushback in December and January, steel prices are on the rise again. Both flat and long product prices have seen an increase over the last one month.

According to data from SteelMint, prices of hot rolled coil – a benchmark for flat steel stood at Rs 66,500-67,500 a tonne in February ex-Mumbai, compared to Rs 64,500-65,650 at the end of January. The increase in long products is more; prices of rebars by secondary producers stood at Rs 56,300 a tonne in February compared to Rs 52,400 at the end of January.

Companies say, it’s a combination of demand recovery globally