Steel becomes more expensive, Indian companies raise rates to 4,900 yen per tonne
NEW DELHI : Major domestic steelmakers have increased the prices of hot-rolled coils (HRC) and cold-rolled coils (CRC) to ₹4,000 and ₹4,900 per ton, respectively, industry sources said Thursday.
After the price review, a ton of HRC will cost Rs 70,000-71,000 while buyers will get CRC at ₹83,000 to 84,000 per tonne. The price review was carried out in the past two days, the sources said.
HRC and CRC are flat steels used in industries such as automotive, household appliances, and construction. Thus, any increase in steel prices impacts the prices of vehicles, consumer goods and the cost of construction, steel being a raw material for these sectors.
SAIL, JSW Steel, Tata Steel, JSPL and AMNS India are the main steel companies in the country, which jointly contribute around 55% of India’s total steel production.
When contacted, a SAIL official said “he is market driven” and did not comment further.
While JSW Steel declined to comment, a JSPL official said, “Global steel prices have increased due to a surge in the cost of raw materials. Indian iron ore grew by ₹4000 / tonne, which also pushes steel prices up.
“Domestic steel prices are 20-25% lower than international prices. Most steel companies increased their exports due to weak domestic demand. The MSME sector has still not recovered. survey.”
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