What to watch. Steel makers resort to price hike?

Shares of steel firms such as Tata Steel, SAIL and Jindal Steel and Power will remain in focus on reports of product price hike. Reports suggest that steel makers have raised the prices of flat as well as long products by an average of ₹2,500-3,000 a tonne. The prices have been changed with effect from January 1. Spike in global prices of coking coal, a key raw material, had forced the firms to consider a steep hike in prices.