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Ambarish Mukherjee

New Delhi , July 24

Steel makers are planning to increase prices of hot rolled flat products in the range of Rs 500-700 from August across product range, sources in the manufacturing companies said. This would be the third round of increase in the last four months.

However, the possibility of an increase in long products is unlikely this month, they said.

The current price of hot rolled coils is in the range of Rs 26,000 to Rs 28,500 per tonne including excise duty of around Rs 2,000. With this round of increase, the prices are likely to cross Rs 29,000, industry sources said.

Earlier, in the beginning of July the companies had increased the prices in the range of Rs 1,000 to Rs 1,500 per tonne.

Industry sources pointed out that if the public sector Steel Authority of India Ltd (SAIL) increases its prices in the Rs 500-700 range, then the private companies would increase the prices by a few more hundreds. The hike may go up to Rs 1,000 by some producers.

More Stories on : Steel | Steel Authority of India Ltd

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