Steel producers likely to raise prices in August, albeit marginally

Slight uptick in demand, huge gap between domestic and global prices could drive the decision

With demand slightly picking up and domestic steel prices continuing to stay at huge discounts to global rates, primary steel producers may be prompted to raise product prices for August.

“We are raising prices by Rs 1,000-2,000 a tonne from August 1 as there is a slight uptick in demand. Also, domestic steel prices are at huge discounts to overseas steel rates,” Ranjan Dhar, chief marketing officer at AM/NS India told Business Standard.

AM/NS India is a flat steel producer along with Sajjan Jindal-led JSW Steel and Tata Steel in the domestic market. Naveen Jindal-led Jindal Steel & Power (JSPL)