Steel firms mull Rs 1,000 a tonne hike from April

Most companies plan another Rs 1,000 per tonne rise from April, trend likely to continue

With iron ore prices on a rise and domestic demand likely to pick up by mid-April, steel producers have already raised product prices by Rs 1,000 per tonne from 15, March and are gearing up for another hike by the same quantum from April. This time most of the companies, according to the source, are raising prices.

"Domestic steel firms at a closed-door meeting held 10 days ago have come to an understanding to unanimously raise product prices for April by another Rs 1,000 per tonne," a source close to the development told Business Standard.

Domestic steel companies have raised prices by