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Steel companies plan price hike

Press Trust of India  |  New Delhi 

prices may go up as major players are planning price revision, industry sources said.

has already hiked the prices by Rs 750 a tonne.

"Hot Rolled Coil (HRC) was hovering in the range of Rs 42,000 to 44,000 till end of January. The hike made last week was in line with international prices. The rates have gone up in the international market," a company source said.

Another company will also hike the prices "if others will do", a who did not wish to be quoted said.

"In last 10 days, prices of steel have gone up to USD 70 a tonne in the international market due to increasing prices of iron ore. If there will be a revision it will be an revision," an said.

In a statement, A K Chaudhary while pointing at the current volatility in said: "...despite various factors including cheap imports, the prices are expected to improve in coming days considering the high input costs".

E-mail queries sent to Tata Steel and RINL remained unanswered till the time of filing of the story.

(SAIL), (RINL), JSW Steel, Jindal Steel and (JSPL) and (TSL) are six primary in the country, which together control about 60 per cent market.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 07 2019. 22:05 IST
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