Rise in coking coal prices and the increase in rail freight tariff may prompt steel makers in the country to hike prices of flat and long steel products, reports indicate.
The transportation cost for the steel makers rose by Rs 60 per tonne because of the hike in rail freight from this month.
Further, imported price of steel is higher than the price of domestic products, which gives another reason to domestic players to raise prices.
It is learnt that there is a gap of $50-70 dollar in the landed costs of steel compared to the domestic price.
Steel is generally consumed the most during this time of the year when demand reaches its peak because of buoyancy in construction work and in the consumer durables sectors.
Steel Authority of India ( SAIL) and Jindal Steel and Power (JSPL) are among the leading producers which had jacked up the prices last month.
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