SAIL hikes steel prices by up to Rs500 per tonne
04 Mar 2013
State-run Steel Authority of India Ltd (SAIL), the country's largest steel maker, has increased product prices by up to Rs500 per tonne for March.
Steel prices have been revised across various products in order to align them with international prices, company's chairman C S Verma said today.
Verma said the price hike has been necessitated by higher input costs and is being implemented across all product ranges.
''The correction was required…prices in international markets are rising. Coking coal prices have gone up by $15-20 per tonne (internationally) in recent times, other input costs have also increased. So we had to increase the prices… It's up to Rs500 per tonne,'' he said.
Private sector steel maker Jindal Steel and Power (JSPL) has already raised product prices for March.
JSPL has increased prices for plates and coils by about Rs1,000 per tonne for the current month and by about Rs500 per tonne for long products.
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