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SAIL, the country’s largest steel maker, has implemented yet another price hike for both long and flat products for March, on rising demand.
Though the increase is marginal, the prices of long products such as TMT bars have been hiked by Rs 500 to Rs 1,000 a tonne.
This is the second such hike in maximum recommended retail price (MRRP) inclusive of VAT in the past three months. Earlier, the company had increased prices in October 2011, after a long gap of around 10 months.
In Delhi, the MRRP of 8 mm TMT bar has been increased to Rs 51,100 tonne, up from Rs 50,100 a tonne in January. In Kalamboli, a key market in Maharashtra, the MRRP for SAIL’s TMT including a 3 per cent Octroi stands at Rs 52,600 (Rs 52,100 in January).
Similarly, the 0.5 mm galvanised coil sheet produced in Bhilai Steel Plant has now been priced at Rs 56,700/tonne in Delhi against Rs 56,100 in February. The price of such sheet in Kalamboli now stands at Rs 63,200 (Rs 62,600 in Feb).
Last month, the SAIL Chairman, Mr C.S.Verma, had predicted a brisk demand for steel products in the current quarter on rebound in demand from sectors such as construction and infrastructure. Such pick up in demand was also attributed to the rush to meet targets on various Government projects during the March quarter, the last quarter of the terminal year of 11th Five-Year Plan.
Shares of SAIL were trading flat at Rs 97.80 in the intraday trade around noon on Tuesday.
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