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Steel prices may rebound on China demand, pick up in domestic need

Indian companies hope they can in the next few months bridge a 7 per cent gap between international and domestic prices

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4 min read Last Updated : Jul 27 2020 | 1:57 PM IST

Steel companies are likely to increase prices in August, responding to domestic demand and international prices and international trend.

Companies, which raised prices in June, hope that they can in the next few months bridge a 7 per cent gap between international and domestic prices.

"Prices were increased by Rs 500 a tonne earlier this month and three days back, there was another increase of Rs 750 a tonne. Next month, prices could increase by Rs 750-1,000 a tonne," said V R Sharma, managing director of Jindal Steel & Power Ltd (JSPL), as he explained how the market had bottomed

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