With Rising Demand, Steel Prices Shoot Up

Steel companies have increased steel price by ₹1,500-1,750 a tonne in January with strong demand from across sectors and a firm global demand. This is the highest price hike this fiscal.

- Suresh P Iyengar

Hot-rolled steel prices have been marked up by ₹1,500 a tonne in January to ₹37,500, though it is languishing below the ₹40,000 mark for last eight months.

Jayant Acharya, Director (Sales), JSW Steel, said that the price hike comes on the back of restocking by stockists and fresh offtake by automobile, white goods, packaging and infrastructure sectors.