Indian steelmaker Uttam Galva Steel today hiked its hot rolled steel prices by Rupees 1,500-1,700/mt ($33-38/mt) and
galvanized steel prices by Rupees 2,000/mt ($44/mt) due to rising
manufacturing costs. A company spokesperson stated that the company hiked prices of hot rolled steel and
galvanized steel primarily due to fluctuations in London Metal Exchange (LME) and also due to rising raw material costs.