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MUMBAI: JSW Steel Ltd and Uttam Galva Steels Ltd today announced a hike in the prices of galvanised steel.

JSW hiked prices of galvanised steel by Rs 1,000 per tonne while Uttam Galva raised prices by Rs 1,600 per tonne.

"The hike in price is due to further increase in the input cost, primarily, of zinc, in the international market. And also the buoyant demand of galvanized products," JSW said in a news release quoting Mr M.V.S. Seshagiri Rao, Director Finance. The company had last increased the prices of galvanised steel in October 2005 by Rs 500 per tonne.

Zinc prices have been moving upwards primarily because supply could not keep pace with demand. The metal rose to a record of $2025 a tonne on the London Metal Exchange on Wednesday. On Thursday, zinc for three-month delivery moved to $2016 a tonne.

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