Tuesday, October 02, 2007

Indian Steel prices rise by Rs 400-800/tonne

Rising international and input costs has seen domestic steel prices increase between Rs 400 and Rs 800 per tonne across various products with effect from Monday.

The largest domestic steel manufacturer, Steel Authority of India Ltd, has increased prices between Rs 500 and Rs 600 across all product categories.

Rashtriya Ispat Nigam Ltd (RINL), the holding company of Vizag Steel Plant, is in the process of finalising the increase in the cost of their products.

“On an average, the increase in prices might be between Rs 400 and Rs 800 per tonne, depending on the products,” a company official said.

Major private players, barring Tata Steel, are also understood to have increased their prices.

Though Essar Steel was not willing to comment on the increase, industry sources said the company had raised prices by Rs 500 per tonne on hot rolled products.

JSW Steel is also understood to have increased prices.

The Hindu Business Line :

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